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<SEC-DOCUMENT>0000950134-09-004249.txt : 20090302
<SEC-HEADER>0000950134-09-004249.hdr.sgml : 20090302
<ACCEPTANCE-DATETIME>20090302170016
ACCESSION NUMBER:		0000950134-09-004249
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090422
FILED AS OF DATE:		20090302
DATE AS OF CHANGE:		20090302
EFFECTIVENESS DATE:		20090302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAVO GROWERS INC
		CENTRAL INDEX KEY:			0001133470
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE SERVICES [0700]
		IRS NUMBER:				330945304
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-33385
		FILM NUMBER:		09648341

	BUSINESS ADDRESS:	
		STREET 1:		2530 RED HILL AVE.
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705
		BUSINESS PHONE:		9098334200
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>v51635ddef14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>(RULE 14a-101)<BR>
SCHEDULE 14A INFORMATION<BR>
Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities<BR>
Exchange Act of 1934 (Amendment No. <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</U>)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by the Registrant <FONT face="Wingdings">&#254;</FONT><BR>
Filed by a Party other than the Registrant <FONT face="Wingdings">&#111;</FONT>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box:<BR>
<FONT face="Wingdings">&#111;</FONT> Preliminary Proxy Statement<BR>
<FONT face="Wingdings">&#111;</FONT> Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))<BR>
<FONT face="Wingdings">&#254;</FONT> Definitive Proxy Statement<BR>
<FONT face="Wingdings">&#111;</FONT> Definitive Additional Materials<BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting Material Pursuant to Section&nbsp;240.14a-12

</DIV>
<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>Calavo Growers, Inc.</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 1000%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of Filing Fee (Check the appropriate box):<BR>
<FONT face="Wingdings">&#254;</FONT> No fee required<BR>
<FONT face="Wingdings">&#111;</FONT> Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Title of each class of securities to which transaction applies:</TD>
</TR>
<tr>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
 <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Aggregate number of securities to which transaction applies:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Per unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule&nbsp;0-11 (Set forth the amount on which the filing fee is calculated and
state how it was determined):</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proposed maximum aggregate value of transaction:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Total fee paid:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Fee paid previously with preliminary materials.<br>
<FONT face="Wingdings">&#111;</FONT> Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify the previous filing
by registration statement number, or the Form or Schedule and the date of its filing.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount Previously Paid:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Form, Schedule or Registration Statement No.:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Filing Party:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Date Filed:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 1pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="v51635dv5163501.gif" alt="(CALAVO LOGO)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Since 1924</B><BR>
<B><I>The First Name in Avocados</I></B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD ON APRIL 22, 2009</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>TO THE SHAREHOLDERS OF CALAVO GROWERS, INC.:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOTICE IS HEREBY GIVEN that the Annual Meeting of Shareholders of Calavo Growers, Inc., a
California corporation (the &#147;Company&#148;), will be held on April&nbsp;22, 2009 at 1:00 p.m. Pacific Time at
15765 W. Telegraph Road, Santa Paula, California, 93060 for the following purposes</B>:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To elect thirteen directors, each for a term of one year;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To ratify the appointment of our independent registered public accounting firm
for fiscal year 2009;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To transact such other business as may properly come before the meeting or any
adjournment or postponement thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing items of business are more fully described in the proxy statement accompanying this
Notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The close of business on March&nbsp;6, 2009 has been fixed as the record date for the determination of
shareholders entitled to notice of and to vote at this Annual Meeting and at any adjournment or
postponement thereof. For ten days prior to the meeting, a complete list of shareholders entitled
to vote at the meeting will be available for examination by any shareholder, for any purpose
relating to the meeting, during ordinary business hours at our principal offices located at 1141-A
Cummings Road, Santa Paula, California.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Accompanying this Notice is a proxy. <B>Whether or not you expect to be at the Annual Meeting, please
complete, sign and date the enclosed proxy and return it promptly</B>. If you plan to attend the
Annual Meeting and wish to vote your shares personally, you may do so at any time before the proxy
is voted. To accommodate the largest number of shareholders at the meeting, we request that you
indicate your intent to attend by calling Eyvonne Ortega at (805)&nbsp;921-3244 by April&nbsp;17, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All shareholders are cordially invited to attend the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">By order of the Board of Directors,

</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 50%"><IMG src="v51635dv5163504.gif" alt="(-s- Lecil E. Cole)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Lecil E. Cole<BR>
<I>Chairman of the Board of Directors,<BR>
Chief Executive Officer and President</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">March&nbsp;16, 2009<BR>
Santa Paula, California

</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="94%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#101"><B>QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL MEETING</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#102"><B>CORPORATE GOVERNANCE PRINCIPLES AND BOARD MATTERS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#103"><B>PROPOSAL NO. 1 &#151; ELECTION OF DIRECTORS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#104"><B>PROPOSAL NO. 2 &#151; RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>15</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#105"><B>COMMON STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>16</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#106"><B>TRANSACTIONS WITH RELATED PARTIES</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#107"><B>EXECUTIVE COMPENSATION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#108"><B>PRINCIPAL AUDITOR FEES AND SERVICES</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#109"><B>REPORT OF THE AUDIT COMMITTEE</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>30</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#110"><B>ADDITIONAL INFORMATION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>31</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>




</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="v51635dv5163501.gif" alt="(CALAVO LOGO)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Since 1924</B><BR>
<B><I>The First Name in Avocados</I></B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>1141-A Cummings Road<BR>
Santa Paula, California 93060<BR>
(805)&nbsp;525-1245</B><BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV><BR>
<B>PROXY STATEMENT</B><BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This proxy statement contains information related to the annual meeting of shareholders of Calavo
Growers, Inc. to be held on Wednesday, April&nbsp;22, 2009, beginning at 1:00 p.m. local time, at 15765
W. Telegraph Road, Santa Paula, California, 93060 and at any postponements or adjournments thereof.
This proxy statement and the accompanying proxy are being mailed to shareholders on or about March
16, 2009 in connection with the solicitation by the Board of Directors of proxies for use at the
annual meeting.
</DIV>
<DIV align="left">
<A name="101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL MEETING</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Proxy Materials</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Why am I receiving these materials?</I></B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors (the &#147;Board&#148;) of Calavo Growers, Inc. (&#147;Calavo,&#148; &#147;our,&#148; &#147;us,&#148; &#147;the Company,&#148;
or &#147;we&#148;), a California corporation, is providing these proxy materials for you in connection with
our annual meeting of the shareholders, which will take place on April&nbsp;22, 2009. As a shareholder,
you are invited to attend the annual meeting and are entitled to, and requested to, vote on the
items of business described in this proxy statement. This proxy statement includes information
that we are required to provide to you under the rules of the U.S. Securities and Exchange
Commission and that is designed to assist you in voting your shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is included in the proxy materials?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The proxy materials include:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our proxy statement for the annual meeting of shareholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our 2008 Annual Report, which includes key information from our 2008 Form 10-K;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A proxy card or a voting instruction card for the annual meeting.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What information is contained in this proxy statement?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The information included in this proxy statement relates to the proposals to be voted on at the
annual meeting, the voting process, our Board and Board committees, the compensation of our
directors and current executive officers for fiscal 2008, and other required information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>How may I obtain a copy of Calavo&#146;s 2008 Annual Report to Shareholders, </I></B><B><I>Form 10-K</I></B><B><I> and/or other
financial information?</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A copy of our 2008 Annual Report to Shareholders, which includes key information from our 2008 Form
10-K, is enclosed. Shareholders may request another free copy of our 2008 Annual Report to
Shareholders and/or a free copy of our entire Form 10-K, from:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Corporate Controller<BR>
Calavo Growers, Inc.<BR>
1141A Cummings Road<BR>
Santa Paula, California 93060<BR>
(805)&nbsp;525-1245
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calavo also will furnish any exhibit to our 2008 Form 10-K, if specifically requested.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Important Notice Regarding the Internet Availability of Proxy Materials for the Shareholder
Meeting to be Held on April&nbsp;22, 2009</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This proxy statement, the accompanying proxy, our 2008 Annual Report to Shareholders and our 2008
Form 10-K are also available on our website at http://www.calavo.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>How may I request multiple sets of proxy materials if two or more shareholders reside in my
household?</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To minimize our expenses, one proxy statement and one annual report to shareholders may be
delivered to two or more shareholders who share an address unless we have received contrary
instructions from one or more of the shareholders. We will deliver promptly upon written or oral
request a separate copy of the proxy statement and annual report to a shareholder at a shared
address to which a single copy of the proxy statement and annual report was delivered. Requests
for additional copies of the proxy statement and annual report, and requests that in the future
separate documents be sent to shareholders who share an address, should be directed by writing to
Calavo Growers, Inc., 1141-A Cummings Road, Santa Paula, California 93060, Attention James Snyder,
or by calling Mr.&nbsp;Snyder at (805)&nbsp;525-1245.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How may I request a single set of proxy materials for my household?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you share an address with another shareholder and have received multiple copies of our proxy
materials, you may write or call us at the address set forth in the preceding paragraph to request
delivery of a single copy of these materials.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What should I do if I receive more than one set of voting materials?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may receive more than one set of voting materials, including multiple copies of this proxy
statement and multiple proxy cards or voting instruction cards. For example, if you hold your
shares in more than one brokerage account, you may receive a separate voting instruction card for
each brokerage account in which you hold shares. If you are a shareholder of record and your
shares are registered in more than one name, you will receive more than one proxy card. Please
complete, sign, date, and return each Calavo proxy card and voting instruction card that you
receive.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Voting Information</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>What items of business will be voted on at the annual meeting?</I></B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The items of business scheduled to be voted on at the annual meeting are:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The election of directors</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The ratification of Calavo&#146;s independent registered public accounting firm for the 2009
fiscal year</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We also will consider any other business that properly comes before the annual meeting. See
question below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What happens if additional matters are presented at the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Other than the two items of business described in this proxy statement, we are not aware of any
other business to be acted upon at the annual meeting. If you grant a proxy, the persons named as
proxy holders, Lecil E. Cole and J. Link Leavens, will have the discretion to vote your shares on
any additional matters properly presented for a vote at the meeting. If for any reason any of our
nominees are not available as a candidate for director, the persons named as proxy holders will
vote your proxy for such other candidate or candidates as may be nominated by the Board.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How does the Board recommend that I vote?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our Board recommends that you vote your shares FOR each of the nominees for election to the Board
and FOR the ratification of our independent registered public accounting firm for the 2009 fiscal
year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the difference between holding shares as a shareholder of record and as a beneficial owner?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Many Calavo shareholders hold their shares through a broker, or other nominee, rather than directly
in their own names. As summarized below, there are some distinctions between shares held of record
and those owned beneficially.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Shareholder of Record</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">If your shares are registered directly in your name with our transfer agent, Computershare,
you are considered, with respect to those shares, the <I>shareholder of record</I>, and we are
sending these proxy materials directly to you. As the <I>shareholder of record</I>, you have the
right to grant your voting proxy directly to us or to vote in person at the meeting. We
have enclosed a proxy card for you to use.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Beneficial Owner</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">If your shares are held in a brokerage account, or by another nominee, you are considered
the <I>beneficial owner </I>of shares held <I>in street name</I>, and these proxy materials are being
forwarded to you together with a voting instruction card. As the beneficial owner, you have
the right to direct your broker, trustee or nominee how to vote and are also invited to
attend the annual meeting.<BR>
<br style="font-size: 6pt">
Since a beneficial owner is not the <I>shareholder of record</I>, you may not vote these shares in
person at the meeting, unless you obtain a &#147;legal proxy&#148; from the broker, trustee or nominee
that holds your shares, giving you the right to vote the shares at the meeting. Your
broker, trustee or nominee should provide voting instructions for you to use in directing
the broker, trustee or nominee how to vote your shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What shares can I vote?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Each share of Calavo common stock issued and outstanding as of the close of business on March&nbsp;6,
2009, the <I>Record Date </I>for the annual meeting, is entitled to be voted on all items being voted upon
at the annual meeting. You may vote all shares owned by you as of this time, including (1)&nbsp;shares
held directly in your name as the <I>shareholder of record, </I>and (2)&nbsp;shares held for you as the
<I>beneficial owner </I>through a broker, trustee or other nominee such as a bank. On the <I>Record Date,</I>
Calavo had approximately 14.4&nbsp;million shares of common stock issued and outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can I vote my shares in person at the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shares held in your name as the shareholder of record may be voted in person at the annual meeting.
Shares held beneficially in street name may be voted in person at the annual meeting only if you
obtain a legal proxy from the broker, trustee or nominee that holds your shares giving you the
right to vote the shares. Even if you plan to attend the annual meeting, we recommend that you
also submit your proxy or voting instructions as described below so that your vote will be counted
if you later decide not to attend the meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can I vote my shares without attending the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Whether you hold shares directly as the shareholder of record or beneficially in street name, you
may direct how your shares are voted without attending the annual meeting. If you are a
shareholder of record, you may vote by submitting a proxy. If you hold shares beneficially in
street name, you may vote by submitting voting instructions to your broker, trustee or nominee.
For directions on how to vote, please refer to the instructions below and those included on your
proxy card or, for shares held beneficially in street name, the voting instruction card provided by
your broker, trustee or nominee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholders of record of Calavo common stock may submit proxies by completing, signing and dating
their proxy cards and mailing them in the accompanying pre-addressed envelopes. Calavo
shareholders who hold shares
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">beneficially in street name may vote by mail by completing, signing
and dating the voting instruction cards provided and mailing them in the accompanying pre-addressed
envelopes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the deadline for voting my shares?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you hold shares as the shareholder of record, your vote by proxy must be received before the
polls close at the annual meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you are the beneficial owner of shares held through a broker, trustee or other nominee, please
follow the voting instructions provided by your broker, trustee or nominee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>May I change my vote?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may change your vote at any time prior to the vote at the annual meeting. If you are the
shareholder of record, you may change your vote by granting a new proxy bearing a later date (which
automatically revokes the earlier proxy), by providing a written notice of revocation to the
Corporate Secretary at the address shown under the question below titled, &#147;<I>What is the deadline to
propose actions for consideration at next year&#146;s annual meeting of shareholders?</I>&#148; prior to your
shares being voted or by attending the annual meeting and voting in person. Attendance at the
meeting will not cause your previously granted proxy to be revoked unless you specifically make
that request. For shares you hold beneficially in the name of a broker, trustee or other nominee,
you may change your vote by submitting new voting instructions to your broker, trustee or nominee,
or, if you have obtained a legal proxy from your broker or nominee giving you the right to vote
your shares, by attending the meeting and voting in person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is my vote confidential?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Proxy instructions, ballots and voting tabulations that identify individual shareholders are
handled in a manner that protects your voting privacy. Your vote will not be disclosed either
within Calavo or to third parties, except: (1)&nbsp;as necessary to meet applicable legal requirements,
(2)&nbsp;to allow for the tabulation of votes and certification of the vote, and (3)&nbsp;to facilitate a
successful proxy solicitation. Occasionally, shareholders provide on their proxy card written
comments, which are then forwarded to Calavo management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How are votes counted</I></B><I>?</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the election of directors, you may vote &#147;FOR,&#148; &#147;AGAINST&#148; or &#147;ABSTAIN&#148; with respect to each of
the nominees. If you elect to abstain in the election of directors, the abstention will not
impact the election of directors. In tabulating the voting results for the election of directors,
only &#147;FOR&#148; and &#147;AGAINST&#148; votes are counted. You also may cumulate your votes as described in
question the question below titled, &#147;<I>Is cumulative voting permitted for the election of
directors?</I>&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may vote &#147;FOR,&#148; &#147;AGAINST&#148; or &#147;ABSTAIN&#148; with respect to the proposal to ratify the appointment
of our independent registered public accounting firm for the 2009 fiscal year. If you elect to
abstain, the abstention will have the same effect as an &#147;AGAINST&#148; vote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you provide specific instructions with regard to certain items, your shares will be voted as you
instruct on such items. If you vote by proxy card or voting instruction card and sign the card
without giving specific instructions, your shares will be voted in accordance with the
recommendations of the Board (FOR all of our nominees to the Board and FOR ratification of the
appointment of our independent registered public accounting firm).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the voting requirement to approve each of the proposals</I></B><I>?</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the election of directors, the 13 director candidates receiving the highest number of
affirmative votes will be elected. Approval of the proposal to ratify the appointment of our
independent registered public accounting firm for the 2009 fiscal year requires the affirmative
vote of a majority of those shares present in person or represented by proxy and voting on that
proposal at the annual meeting.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you are the beneficial owner of shares held in the name of a broker, trustee or other nominee
and do not provide that broker, trustee or other nominee with voting instructions, your shares may
constitute &#147;broker non-votes.&#148; Generally, broker non-votes occur on a matter when a broker is not
permitted to vote on that matter without instructions from the beneficial owner and instructions
are not given. In tabulating the voting result for any particular proposal, shares that constitute
broker non-votes are not considered entitled to vote on that proposal. Thus, broker non-votes will
not affect the outcome of any matter being voted on at the meeting, assuming that a quorum is
obtained. Abstentions have the same effect as votes against the matter except in the election of
directors, as described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is cumulative voting permitted for the election of directors</I></B><I>?</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the election of directors, you may elect to cumulate your vote. Cumulative voting will allow
you to allocate among the director nominees, as you see fit, the total number of votes equal to the
number of director positions to be filled multiplied by the number of shares you hold. For
example, if you own 100 shares of stock and there are 13 directors to be elected at the annual
meeting, you may allocate 1,300 &#147;FOR&#148; votes (13 times 100) among as few or as many of the 13
nominees to be voted on at the annual meeting as you choose. You may not cumulate your votes
against a nominee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you are a shareholder of record and choose to cumulate your votes, you will need to submit a
proxy card or, if you vote in person at the annual meeting, submit a ballot and make an explicit
statement of your intent to cumulate your votes, either by so indicating in writing on the proxy
card or by indicating in writing on your ballot when voting at the annual meeting. If you hold
shares beneficially through a broker, trustee or other nominee and wish to cumulate votes, you
should contact your broker, trustee or nominee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you vote by proxy card or voting instruction card and sign your card with no further
instructions, Lecil E. Cole and J. Link Leavens, as proxy holders, may cumulate and cast your votes
in favor of the election of some or all of the applicable nominees in their sole discretion, except
that none of your votes will be cast for any nominee as to whom you vote against or abstain from
voting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cumulative voting applies only to the election of directors. For all other matters, each share of
common stock outstanding as of the close of business on March&nbsp;6, 2009, the record date for the
annual meeting, is entitled to one vote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Who will serve as inspector of elections?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The inspector of elections will be a representative from our transfer agent, Computershare.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Who will bear the cost of soliciting votes for the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are making this solicitation and will pay substantially all of the costs of preparing,
assembling, printing, mailing and distributing these proxy materials and soliciting votes. We have
retained Computershare, our transfer agent, to assist with the solicitation of proxies from the
shareholders of record for a fee of approximately $10,000, plus expenses. We will also reimburse
banks, brokers or other nominees for their costs of sending our proxy materials to beneficial
owners. Directors, officers or other employees of ours may also solicit proxies from shareholders
in person, by telephone, facsimile transmission or other electronic means of communication without
additional compensation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Where can I find the voting results of the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We intend to announce preliminary voting results at the annual meeting and publish final results in
our quarterly report on Form 10-Q for the second quarter of fiscal 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What if I have questions for Calavo&#146;s transfer agent?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please contact our transfer agent, at the phone number or address listed below, with questions
concerning stock certificates, dividend checks, transfer of ownership or other matters pertaining
to your stock account.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Computershare Trust Company, N.A.<BR>
250 Royall St<BR>
Canton, MA 02021<BR>
(800)&nbsp;962-4284
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Annual Meeting Information</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>What is the purpose of the annual meeting?</I></B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At our annual meeting, shareholders will act upon the matters outlined in the notice of meeting on
the cover page of this proxy statement, including the election of directors and ratification of our
independent registered public accounting firm. In addition, management will report on our
performance during fiscal year 2008 and respond to questions from shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Who can attend the meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All shareholders as of the record date, or their duly appointed proxies, may attend the meeting.
To accommodate the largest number of shareholders at the meeting, we request that you indicate your
intent to attend by calling Eyvonne Ortega at (805)&nbsp;921-3244 by April&nbsp;17, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How many shares must be present or represented to conduct business at the annual meeting?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The quorum requirement for holding the annual meeting and transacting business is that holders of a
majority of shares of our common stock entitled to vote must be present in person or represented by
proxy. Both abstentions and broker non-votes described previously in the question above titled,
"<I>What is the voting requirement to approve each of the proposals?</I>&#148; are counted for the purpose of
determining the presence of a quorum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Shareholder Proposals, Director Nominations and Related Bylaw Provisions</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>What is the deadline to propose actions for consideration at next year&#146;s annual meeting of
shareholders?</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may submit proposals for consideration at future shareholder meetings. For a shareholder
proposal to be considered for inclusion in our proxy statement for the annual meeting next year,
the written proposal must be received by our Corporate Secretary, at our principal executive
offices, no later than November&nbsp;17, 2009. If the date of next year&#146;s annual meeting is moved more
than 30&nbsp;days before the anniversary date of this year&#146;s annual meeting, the deadline for inclusion
of proposals in our proxy statement is instead a reasonable time before we begin to print and mail
our proxy materials. Such proposals also will need to comply with Securities and Exchange
Commission regulations under Rule&nbsp;14a-8 regarding the inclusion of shareholder proposals in
company-sponsored proxy materials. Proposals should be addressed to our corporate address:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Corporate Secretary<BR>
Calavo Growers, Inc.<BR>
1141A Cummings Road<BR>
Santa Paula, California 93060
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If notice of a shareholder proposal submitted outside the process of Rule&nbsp;14a-8 is not received by
our Corporate Secretary by January&nbsp;31, 2010, the persons named in our proxy for the next annual
meeting of shareholders will have discretionary authority to vote on the proposal in accordance
with their best judgment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How may I recommend or nominate individuals to serve as directors?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may propose director candidates for consideration by the Board&#146;s Nominating and Governance
Committee. Any such recommendations should include the nominee&#146;s name and qualifications for Board
membership and should be directed to our Corporate Secretary at the address of our principal
executive offices set forth above.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, our bylaws permit a shareholder to nominate directors for election at an annual
shareholders&#146; meeting, but only if the shareholder complies with the procedures that are set forth
in the bylaws. Our bylaws state that the shareholder must deliver notice of the nomination to our
Corporate Secretary not less than 30&nbsp;days, nor more than 120&nbsp;days, prior to the date of the
meeting. The notice must set forth the information that is specified in the bylaws, including
information about both the director candidate and the shareholder who has proposed the candidate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>How may I obtain a copy of Calavo&#146;s Bylaw provisions regarding shareholder proposals and director
nominations?</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may contact our Corporate Secretary at our principal executive offices for a copy of the
relevant bylaw provisions regarding the requirements for nominating director candidates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">
<B><I>How may I communicate with Calavo&#146;s Board of Directors?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may submit an e-mail to our Board at boardmembers@calavo.com. All directors have access to
this e-mail address.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="102"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CORPORATE GOVERNANCE PRINCIPLES AND BOARD MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are committed to having sound corporate governance principles. Having such principles is
essential to running our business efficiently and to maintaining our integrity in the marketplace.
We have adopted a code of ethics that applies to all of our directors, officers and employees. A
copy of our code of ethics is posted on our Internet site at
<u><i>http://www.calavo.com</I></u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholders may request free printed copies of our code of ethics and our Board committee charters
from:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Calavo Growers, Inc.<BR>
Attention: Corporate Secretary<BR>
1141-A Cummings Road<BR>
Santa Paula, CA 93060<BR>
(805)&nbsp;525-1245
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Board Structure and Committee Composition</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As of the date of this proxy statement, our Board has 13 directors. The Board has recommended the
election of the 13 director nominees who are identified in this proxy statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board has the following four committees: (1)&nbsp;Executive, (2)&nbsp;Audit, (3)&nbsp;Nominating and
Governance, and (4)&nbsp;Compensation. The membership during the last fiscal year through the date of
this proxy statement, and the function of each of the committees, are described below. During
fiscal year 2008, the Board held 12 meetings. Each director, except for newly appointed Steven
Hollister, attended at least 75% of all Board and applicable Committee meetings. Directors are
encouraged by the Board to attend annual meetings of Calavo shareholders and all of our
then-directors attended the 2008 annual meeting of shareholders. The Board has determined that
each current member of the Audit Committee, Nominating and Governance Committee and Compensation
Committee is independent within the meaning of Nasdaq Rule&nbsp;4200(a)(15), and that each current
member of the Audit Committee is independent within the meaning of applicable regulations of the
Securities and Exchange Commission regarding the independence of audit committee members.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Nominating</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">and</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Executive</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Audit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Governance</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Compensation</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Director</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Committee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Committee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Committee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Committee</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil E. Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">**</TD>
    <TD nowrap></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael D. Hause</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">**</TD>
    <TD nowrap></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fred J. Ferrazzano</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">**</TD>
    <TD nowrap></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alva V. Snider</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">George H. Barnes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold S. Edwards</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Egidio Carbone, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald M. Sanders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dorcas H. McFarlane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott Van Der Kar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Link Leavens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John M. Hunt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">**</TD>
    <TD nowrap></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Steven Hollister</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of meetings
in fiscal year 2008</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Member.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">**</TD>
    <TD>&nbsp;</TD>
    <TD>Chair.</TD>
</TR>


</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Executive Committee. </I></B>The Executive Committee exercises the authority of the Board of Directors
when the Board is not in session, as permitted by law and by policy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Audit Committee. </I></B>The Audit Committee assists the Board in fulfilling its responsibilities for
generally overseeing our financial reporting processes and the audit of our financial statements,
including the integrity of our financial statements, our compliance with legal and regulatory
requirements, the qualifications and independence of the independent registered public accounting
firm, the performance of our internal audit function and the independent registered public
accounting firm, and risk assessment and risk management. Among other things, the Audit Committee
prepares the Audit Committee report for inclusion in the annual proxy statement; annually reviews
its charter and performance; appoints, evaluates and determines the compensation of the independent
registered public accounting firm; reviews and approves the scope of the annual audit, the audit
fee and the financial statements; reviews our disclosure controls and procedures, internal
controls, internal audit function, and corporate policies with respect to financial information and
earnings guidance; oversees investigations into complaints concerning financial matters; and
reviews other risks that may have a significant impact on our financial statements. The Audit
Committee works closely with management as well as the independent registered public accounting
firm.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board has determined that each of Michael Hause, Chair of the Audit Committee, and Audit
Committee members George Barnes, Fred Ferrazzano, John Hunt, and Egidio Carbone is independent
pursuant to applicable listing standards governing audit committee members. The Board also
determined that Michael Hause is an audit committee financial expert as defined by SEC rules and
applicable listing standards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The report of the Audit Committee of the Board of Directors is included in the proxy statement on
page 30. The charter of the Audit Committee is on our website at <U>http://www.calavo.com.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Nominating and Governance Committee. </I></B>The Nominating and Governance Committee recommends candidates
to be nominated for election as directors at our annual meeting, consistent with criteria approved
by the Board; develops and regularly reviews corporate governance principles and related policies
for approval by the Board; oversees the organization of the Board to discharge the Board&#146;s duties
and responsibilities properly and efficiently; and sees that proper attention is given and
effective responses are made to shareholder concerns regarding corporate governance. Other
specific duties and responsibilities of the Nominating and Governance Committee include: annually
assessing the size and composition of the Board, including developing and reviewing director
qualifications for approval by the Board; identifying and recruiting new directors and considering
candidates proposed by shareholders; recommending assignments of directors to committees to ensure
that committee membership complies with applicable laws and listing standards; conducting a
preliminary review of director independence and financial literacy and expertise of Audit Committee
members; and overseeing director orientation and continuing education. The Nominating and
Governance Committee also reviews proposed changes to our Articles of Incorporation, Bylaws and
Board committee charters; conducts ongoing reviews of potential related party transactions and
conflicts of interest, including the review and approval of all &#147;related party transactions&#148; as
defined under SEC rules; reviews shareholder proposals in conjunction with the Chairman of the
Board and recommends Board responses; oversees the self-evaluation of the Board and its committees;
oversees the annual evaluation of the CEO conducted by the lead independent director, in
conjunction with the Compensation Committee, with input from all Board members; oversees the
Compensation Committee&#146;s evaluation of senior management; and reviews requests for indemnification
under our Bylaws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The charter of the Nominating and Governance Committee is on our website at <u>http://www.calavo.com</u>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Compensation Committee. </I></B>The Compensation Committee is responsible for the compensation of our
executives and directors; reviews and approves the report required by the U.S. Securities and
Exchange Commission for inclusion in the annual proxy statement; provides general oversight of our
compensation structure; reviews and provides guidance on human resources programs; and retains and
approves the terms of the retention of compensation consultants and other compensation experts.
Other specific duties and responsibilities of the Compensation Committee include reviewing senior
management selection and overseeing succession planning; reviewing and approving objectives
relevant to executive officer compensation, evaluating performance and determining the compensation
of executive officers in accordance with those objectives; approving severance arrangements and
other applicable agreements for executive officers; overseeing our equity-based and incentive
compensation; establishing compensation policies and practices for service on the Board and its
committees and for the Chairman of the Board; developing guidelines for and monitoring director and
executive stock ownership; and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">annually evaluating its performance and its charter. The charter of
the Compensation Committee  is posted on our website at <U>www.calavo.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Director Independence</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our Corporate Governance Guidelines and the Rules of the Nasdaq Stock Market provide that a
majority of our thirteen-member Board must consist of independent directors. Pursuant to such
guidelines, a director will not be considered independent in the following circumstances:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;The director is, or has been in the past three years, an employee of Calavo, or a family
member of the director is, or has been in the past three years, an executive officer of Calavo.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(2)&nbsp;The director has received, or has a family member who has received, compensation from us in
excess of $100,000 in any 12&nbsp;month period in the past three years, other than compensation for
board service, compensation received by the director&#146;s family member for service as a non-executive
employee, and benefits under a tax-qualified plan or other non-discretionary compensation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(3)&nbsp;The director is, or has a family member who is, a current partner of our independent
registered public accounting firm, or was a partner or employee of our independent registered
public accounting firm, who worked on our audit at any time during any of the past three years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(4)&nbsp;The director is, or has a family member who is, employed as an executive officer of another
entity where, at any time during the past three years, any of our executive officers served on the
compensation committee of that other entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(5)&nbsp;The director is, or a family member is, a partner in, or a controlling shareholder or an
executive officer of, any organization to which we made, or from which we received, payments for
property or services in the current or any of the past three fiscal years that exceed the greater
of 5% of the recipient&#146;s consolidated gross revenues for that year, or $200,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For these purposes, a &#147;family member&#148; includes a director&#146;s spouse, parents, children, and
siblings, whether by blood, marriage, adoption, or anyone residing in the director&#146;s home.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In determining independence, the Board reviews whether directors have any material relationship
with us. The Board considers all relevant facts and circumstances. In assessing the materiality
of a director&#146;s relationship to us, the Board considers the issues from the director&#146;s standpoint
and from the perspective of the persons or organizations with which the director has an affiliation
and is guided by the standards set forth above. The Board reviews commercial, industrial, banking,
consulting, legal, accounting, charitable and familial relationships, if applicable. An
independent director must not have any material relationship with us, either directly or as a
partner, shareholder or officer of an organization that has a relationship with us, or any
relationship that would interfere with the exercise of independent judgment in carrying out the
responsibilities of a director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board has determined that each of the following seven non-employee director nominees standing
for election is independent within the meaning of Nasdaq Stock Market Marketplace Rule&nbsp;4200(a)(15):
Michael Hause, George Barnes, Fred Ferrazzano, John Hunt, Alva Snider, Egidio Carbone, Jr., and
Steven Hollister.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Director Nominees</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Shareholder nominees</I>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Nominating and Governance Committee will consider shareholder nominations for candidates for
membership on the Board. In evaluating such nominations, the Nominating and Governance Committee
seeks to achieve a balance of knowledge, experience and capability on the Board. Any shareholder
nominations proposed for consideration by the Nominating and Governance Committee should include
the nominee&#146;s name and qualifications for Board membership and should be addressed to:
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Corporate Secretary<BR>
Calavo Growers, Inc.<BR>
1141A Cummings Road<BR>
Santa Paula, CA 93060
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, our bylaws permit shareholders to nominate directors for consideration at an annual
shareholder meeting. For a description of the process for nominating directors in accordance with
our bylaws, see &#147;Questions and Answers&#151;Shareholder Proposals, Director Nominations and Related
Bylaw Provisions&#151;How may I recommend or nominate individuals to serve as Directors?&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Director Qualifications</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Nominating and Governance Committee believes that members of the Board should have the highest
professional and personal ethics and values, consistent with longstanding Calavo values and
standards. They should have broad experience at the policy-making level in business, government,
education, technology or public interest. They should be committed to enhancing shareholder value
and should have sufficient time to carry out their duties and to provide insight and practical
wisdom based on experience. Their service on other boards of public companies should be limited to
a number that permits them, given their individual circumstances, to perform responsibly all
director duties. Each director must represent the interests of all shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Identifying and Evaluating Nominees for Director</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Nominating and Governance Committee utilizes a variety of methods for identifying and
evaluating nominees for director. The Nominating and Governance Committee will periodically assess
the appropriate size of the Board and whether any vacancies on the Board are expected due to
retirement or otherwise. In the event that vacancies are anticipated, or otherwise arise, the
Nominating and Governance Committee will consider various potential candidates for director.
Candidates may come to the attention of the Nominating and Governance Committee through current
Board members, professional search firms, shareholders or other persons. These candidates will be
evaluated at regular or special meetings of the Nominating and Governance Committee, and may be
considered at any point during the year. As described above, the Nominating and Governance
Committee considers shareholder nominations for candidates for the Board. If any materials are
provided by a shareholder in connection with the nomination of a director candidate, such materials
will be forwarded to the Nominating and Governance Committee. The Nominating and Governance
Committee will also review materials provided by professional search firms or other parties in
connection with a nominee who is not proposed by a shareholder.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>DIRECTOR COMPENSATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Each of our non-employee directors is paid a $10,000 retainer annually, for services rendered
January to December, and is reimbursed for reasonable expenses incurred in connection with
performance of their duties as directors. Committee chairs/co-chairs also receive a $2,500
retainer, which was paid in January&nbsp;2008 for services to be rendered through December&nbsp;2008. Each
non-employee director also receives cash compensation of $2,000 for attendance at each board
meeting. Additionally, committee members receive $500 per committee meeting attended. Directors
may, from time to time, be compensated related to their involvement in special projects, as
determined by the Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Director Compensation Table</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table summarizes compensation that our directors (other than Lecil Cole, a named
executive officer) earned during fiscal 2008 for services as members of our board of directors.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="55%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Fees Earned or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Paid in Cash ($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Awards ($)</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">George Barnes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Egidio Carbone<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">37,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">2,651</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">39,651</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold Edwards<SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">28,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">4,128</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,128</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fred Ferrazzano</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Hause<SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">37,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">3,711</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">40,711</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Steven Hollister</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John Hunt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">39,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">39,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Link Leavens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dorcas McFarlane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">31,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">31,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald Sanders<SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">9,012</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">41,012</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alva Snider</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott Van Der Kar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">34,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">34,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Van Wagner<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">344</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">22,844</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Valuation based on the dollar amount of option grants recognized for financial
statement reporting purposes pursuant to SFAS 123R with respect to fiscal 2008. These amounts
reflect our accounting expense for these awards and do not correspond to the actual value that may
be realized by the directors with respect to these awards. The assumptions we used with respect to
the valuation of option grants are set forth in Note 2 to our consolidated financial statements
contained in our Annual Report on Form 10-K for the year ended October&nbsp;31, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</sup></TD>
    <TD>&nbsp;</TD>
    <TD>The grant date fair value of options granted during fiscal year 2008 for each
director, computed in accordance with FAS 123R, was as follows:</TD>
</TR>

</TABLE>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Egidio Carbone, $32,000</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Michael Hause, $44,000</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Donald Sanders, $108,000</TD>
</TR>

</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Van Wagner resigned in August&nbsp;2008. During fiscal 2008, he exercised 2,000
options to purchase common shares and forfeited 8,000 options.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Carbone held 10,000 options to purchase common shares at October&nbsp;31, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Hause held 14,000 options to purchase common shares at October&nbsp;31, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Sanders held 34,000 options to purchase common shares at October&nbsp;31, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Edwards held 10,000 options to purchase common shares at October&nbsp;31, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Relates to a stock option grant that took place in December&nbsp;2006. The fair market
value per share at the grant date was estimated to be $2.06 per share. Messrs.&nbsp;Van Wagner and
Edwards each received 10,000 options at the grant date.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROPOSALS TO BE VOTED ON</B>
</DIV>

<DIV align="left">
<A name="103"></A>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PROPOSAL NO. 1</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ELECTION OF DIRECTORS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are thirteen nominees for election to our Board this year. All of the nominees, other than
Steven Hollister (who was appointed as a director in August&nbsp;2008) have served as directors since
the last annual meeting. Each director is elected annually to serve until the next annual meeting
or until his or her successor is elected. There are no family relationships among our executive
officers and directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The 13 director candidates receiving the highest number of affirmative votes at the annual meeting
will be elected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you sign your proxy or voting instruction card, but do not give instructions with respect to
voting for directors, your shares will be voted for the thirteen persons recommended by the Board.
If you wish to give specific instructions with respect to voting for directors, you may do so by
indicating your instructions on your proxy or voting instruction card.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may cumulate your votes in favor of one or more directors. If you wish to cumulate your votes,
you will need to indicate explicitly your intent to cumulate your votes among the thirteen persons
who will be voted upon at the annual meeting. See &#147;Questions and Answers&#151;Voting Information&#151;Is
cumulative voting permitted for the election of directors?&#148; for further information about how to
cumulate your votes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All of the nominees have indicated to Calavo that they will be available to serve as directors. In
the event that any nominee should become unavailable, however, the proxy holders, Mr.&nbsp;Cole and Mr.
Leavens, will vote for a nominee or nominees designated by the Board.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Lecil E. Cole</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1982</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Cole, age 69, has served as our Chairman of the Board of Directors, Chief Executive Officer and
President since February&nbsp;1999. He served as an executive of Safeway Stores from 1964 to 1976 and
as the Chairman of Central Coast Federal Land Bank from 1986 to 1996. Mr.&nbsp;Cole has served as the
Chairman and President of Hawaiian Sweet Inc. and Tropical Hawaiian Products, Inc. since 1996. Mr.
Cole farms a total of approximately 4,400 acres in California on which avocados, papayas and cattle
are produced and raised.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>George H. Barnes</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2004</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Barnes, age 76, has owned and operated avocado groves since 1988 and has served as a member of
the California Avocado Commission for eight years. Mr.&nbsp;Barnes was a director of Calavo from 2000
through 2002.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Michael D. Hause</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2003</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hause, age 55, has served as President and Chief Executive Officer of Santa Clara Valley Bank
N.A since October&nbsp;2001. Prior to October&nbsp;2001, Mr.&nbsp;Hause served as Senior Vice President of Farm
Credit &#151; West (previously Central Coast Farm Credit) in the capacity of Director of Internal Audit
for a period of 8&nbsp;years. Mr.&nbsp;Hause is a former Certified Internal Auditor and a former member of
the Institute of Internal Auditors.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Donald M. Sanders</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2002</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Sanders, age 61, has served as President and Owner of S&#038;S Grove Management Services, Inc. since
1991. In addition, Mr.&nbsp;Sanders has ownership interests in S&#038;S Ranch and Rancho Santo Tomas which
include an aggregate of 134 acres of avocado orchards.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Fred J. Ferrazzano</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1985</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Ferrazzano, age 75, has served as the President and Chief Executive Officer of Ferrazzano
Farms, Inc. since 1973 and has owned and operated avocado groves since 1973. He is the President
and Chief Executive Officer of Westbridge Estates, Inc., a residential homes developer, and has
served in such capacity since 1989. He has served in excess of five years as Chairman, President,
and Chief Executive Officer of the Conservative Order of Good Guys, a political action committee.
Mr.&nbsp;Ferrazzano is a retired Commander in the United States Navy.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Alva V. Snider</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1987</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Snider, age 92, has owned and managed a seven-acre avocado and specialty crop grove since 1968
and is a former director of the California Avocado Commission. He is a retired manager of Shell
Chemical Corp.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Scott Van Der Kar</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1994</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Van Der Kar, age 54, has served as a manager of his family&#146;s farm, Pinehill Ranch, since 1978.
The Van Der Kar family farms approximately 100 acres of avocados and has been delivering avocados
to Calavo since 1959. He is a current member of the board of the California Chermoya Association,
a former member of the board of the Santa Barbara County Workforce Investment Board, and is a
former director of the Santa Barbara County Farm Bureau.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>J. Link Leavens</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1987</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Leavens, age 57, is the general manager of Leavens Ranches, a family partnership, that farms
1100 acres of lemons and avocados in Ventura and Monterey Counties. He has served as President of
the Ventura County Farm Bureau, the Ventura County Resource Conservation District and was a
founding member of the University of California Hansen Trust Advisory Committee. Leavens Ranches
have been Calavo members since 1956.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Dorcas H. McFarlane</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1986</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ms.&nbsp;McFarlane, age 77, owns and operates the J.K. Thille Ranches, a 280-acre farm on which
avocados, lemons and vegetables have been grown since 1972. She is a former member of the board of
the Saticoy Lemon Association, and a current member of the boards of the Agricultural Issues Center
and the Agricultural Council of California.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>John M. Hunt</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 1993</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hunt, age 52, has served as the General Manager of Embarcadero Ranch since 1982 where he
manages a 400-acre avocado and citrus ranch.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Egidio Carbone, Jr.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Carbone, age 68, served as Vice-President, Finance and Corporate Secretary for Calavo Growers,
Inc. from 1980 to 2002.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Harold Edwards</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Edwards, age 43, has been the President and Chief Executive Officer of Limoneira Company, an
agricultural, real estate and community development company, since November&nbsp;2004. Prior to joining
Limoneira Company, Mr.&nbsp;Edwards was the President of Puritan Medical Products, a division of Airgas
Inc. from January&nbsp;2003 to November&nbsp;2004; Vice President and General Manager of Latin America and
Global Expert of Fischer Scientific International, Inc. from September&nbsp;2001 to December&nbsp;2002;
General Manager of Cargill Animal Nutrition Philippines operations, a division of Cargill, Inc.,
from May&nbsp;2001 to September&nbsp;2001; and Managing Director of Agribrands Philippines, Inc., a division
of Agribrands International (Purina) from 1999 to 2001. Mr.&nbsp;Edwards is a graduate of American
Graduate School of International Management and Lewis and Clark College.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Steven Hollister</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Director since 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hollister, age 51, has been Vice President of Sunrise Mortgage &#038; Investment Company, a
commercial mortgage broker, since 2006. Additionally, Mr.&nbsp;Hollister served as Chief Operating
Officer of Fess Parker Winery &#038; Vineyard and Santa Barbara County Wine Center from 2002 to 2006.
In addition, Mr.&nbsp;Hollister was Senior Vice President of Central Coast Farm Credit for 17&nbsp;years.
Mr.&nbsp;Hollister was appointed as a director in August&nbsp;2008.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Our Board recommends that you vote your shares FOR each of the nominees for election to the Board.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>PROPOSAL NO. 2</B>
</DIV>

<DIV align="left">
<A name="104"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee of the Board has appointed Ernst &#038; Young LLP as the independent registered
public accounting firm to audit our consolidated financial statements for the fiscal year ending
October&nbsp;31, 2009. During fiscal 2008, Ernst &#038; Young LLP served as our independent registered
public accounting firm and also provided certain tax services. See &#147;Principal Accountant Fees and
Services&#148; on page 29. Representatives of Ernst &#038; Young LLP are expected to attend the annual
meeting where they will be available to respond to appropriate questions and, if they desire, make
a statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Our Board recommends a vote FOR the ratification of the appointment of Ernst &#038; Young LLP as our
independent registered public accounting firm for the 2009 fiscal year. </B>If the appointment is not
ratified, the Board will consider whether it should select another independent registered public
accounting firm.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="105"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>COMMON STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table sets forth information, as of February&nbsp;1, 2009, concerning beneficial ownership
by:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Holders of more than 5% of our common stock,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Calavo directors and nominees and each of the executive officers named below in the
Summary Compensation Table, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Current directors and Calavo executive officers as a group.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The information provided in the table is based on Calavo&#146;s records, information filed with the SEC
and information provided to Calavo, except where otherwise noted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The number of shares beneficially owned by each entity or individual is determined under SEC rules,
and the information is not necessarily indicative of beneficial ownership for any other purpose.
Under such rules, beneficial ownership includes any shares as to which the entity or individual has
sole or shared voting power or investment power and also any shares that the entity or individual
has the right to acquire as of April&nbsp;1, 2009 (60&nbsp;days after February&nbsp;1, 2009) through the exercise
of any stock option or other right. Unless otherwise indicated, each person has sole voting and
investment power (or shares such powers with his or her spouse) with respect to the shares set
forth in the following table.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares of Common</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent of Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Stock Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Stock Beneficially</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned as of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned as of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name of Beneficial Owner (1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>February 1, 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>February 1, 2009</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil E. Cole(2)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,885,429</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">12.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Limoneira Company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fred J. Ferrazzano(3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,186</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alva V. Snider(4)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96,528</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott Van Der Kar(5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">163,976</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Link Leavens(6)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">474,665</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dorcas H. McFarlane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">136,055</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John M. Hunt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael D. Hause</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">George H. Barnes(8)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald M. Sanders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,946</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Egidio
Carbone, Jr.(10)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert J. Wedin(9)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold
Edwards(11)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Steven Hollister</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur J. Bruno(7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59,942</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael A. Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan C. Ahmer(9)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,422</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All directors and executive officers as a group (17 persons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,986,949</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.3</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Less than 1.0%.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Each person&#146;s address is the address of the Company, which is 1141-A Cummings Road,
Santa Paula, CA, 93060.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 200,000 shares that may be acquired upon the exercise of outstanding stock
options.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 52,410 shares held by Mr.&nbsp;Ferrazzano as trustee in an individual retirement
account and 1,776 shares in an individual retirement account with respect to Mr.
Ferrazzano&#146;s wife as the trustee.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 96,528 shares held by Mr.&nbsp;Snider as trustee in a family trust.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 163,976 shares held by Mr.&nbsp;Van Der Kar as trustee in multiple family trusts.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 308,809 shares held by Mr.&nbsp;Leavens that are owned of record by partnerships of
which Mr.&nbsp;Leavens is a partner.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 50,000 shares that may be acquired upon the exercise of outstanding stock
options.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 400 shares held in a family trust with respect to which Mr.&nbsp;Barnes is
co-trustee with his wife.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 10,000 shares that may be acquired upon the exercise of outstanding stock
options.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 5,300 shares held by Mr. Carbone as trustee in a
family trust.</TD>
</TR>
<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(11)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 4,000 shares that may be acquired upon the exercise of outstanding stock
options. Also, Mr.&nbsp;Edwards is the Chief Executive Officer of Limoneira Company. Mr.
Edwards disclaims beneficial ownership of any shares of our common stock that are owned by
Limoneira Company.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;16(a) of the Securities Exchange Act of 1934, as amended, requires our directors, executive
officers and holders of more than 10% of our common stock to file with the Securities and Exchange
Commission reports regarding their ownership and changes in ownership of our securities. We
believe that, during fiscal year 2008, our directors, executive officers and 10% shareholders
complied with all Section 16(a) filing requirements, with the following exceptions: Donald M.
Sanders  (late on one form 4 representing one transaction), Steven
Hollister (late on one form 3 and one form 4 representing one
transaction each), George Barnes (late on two form 4s representing
two transactions), J. Link Leavens (late on two form 4s representing
two transactions),  Alan Van Wagner (late on one form 4 representing
one transaction), and Egidio Carbone (late on one form 4 representing
one transaction) each
failed to file a timely report on Form&nbsp;4 for his acquisition and/or disposition of shares of common
stock. In making this statement, we have relied upon our examination of the copies of Forms 3, 4
and 5, and amendments thereto, provided to us and the written representations of our directors,
executive officers and 10% shareholders.
</DIV>
<DIV align="left">
<A name="106"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSACTIONS WITH RELATED PARTIES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Related Person Transaction Policies and Procedures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calavo has adopted a written policy for approval of transactions between Calavo and its directors,
director nominees, executive officers, beneficial owners of more than 5% of our common stock, and
their respective immediate family members where the amount involved in the transaction exceeds or
is expected to exceed $100,000 in a single calendar year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The policy provides that the Nominating and Governance Committee reviews certain transactions
subject to the policy and decides whether or not to approve or ratify those transactions. In doing
so, the Nominating and Governance Committee determines whether the transaction is in the best
interests of Calavo. In making that determination, the Nominating and Governance Committee takes
into account, among other factors it deems appropriate:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The extent of the related person&#146;s interest in the transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Whether the transaction is on terms generally available to an unaffiliated third-party
under the same or similar circumstances;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The benefits to Calavo;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The impact or potential impact on a director&#146;s independence in the event the related
party is a director, an immediately family member of a director or an entity in which a
director is a partner, shareholder or executive officer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The availability of other sources for comparable products or services; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The terms of the transaction.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Nominating and Governance Committee has delegated authority to the chair of the Nominating and
Governance Committee to pre-approve or ratify transactions where the aggregate amount involved is
expected to be less than $200,000. A summary of any new transactions pre-approved by the chair is
provided to the full Board of Directors for its review in connection with each of the Board&#146;s
regularly scheduled meetings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Nominating and Governance Committee has adopted standing pre-approvals under the policy for
limited transactions with related persons. Pre-approved transactions include:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Director compensation;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Transactions valued at less than $200,000 or 2% of the other company&#146;s consolidated
gross revenues, where the related person has an interest only as an employee (other than
executive officer), director or beneficial holder of less than 10% of the other company&#146;s
shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Transactions where all shareholders receive proportional benefits;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Papaya sales related to papayas sourced from the entity owned by Lee Cole, our Chairman
of our Board of Directors and CEO, as discussed below;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Avocados delivered to us from our directors pursuant to our customary marketing
agreements, as discussed below.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We sell papayas obtained from an entity previously owned by our Chairman of the Board of Directors,
Chief Executive Officer and President. Sales of papayas amounted to approximately $5,887,000, and
$4,822,000 for the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">years ended October&nbsp;31, 2007 and 2006, resulting in gross margins of
approximately $547,000, and $285,000. Net amounts due to this entity approximated $438,000 at
October&nbsp;31, 2007. On May&nbsp;30, 2008, we acquired all of the outstanding shares of this entity. Sales
of papayas through the acquisition date amounted to approximately need $4,383,000, resulting in gross
margins of approximately $323,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Seven of our thirteen directors are controlling shareholders, partners, and/or executive officers
of entities that market avocados through us pursuant to customary marketing agreements. During the
fiscal year ended October&nbsp;31, 2008, we paid the following amounts to each of the following
directors, including to any entity affiliated with the director, with respect to avocados marketed
through us (note: only amounts in excess of $120,000 are disclosed):
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Amounts paid to</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">director or affiliated</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">entity pursuant to</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="left" style="border-bottom: 1px solid #000000"><DIV style="margin-left:200px; text-indent:-15px">Director</div></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">marketing agreements</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil E. Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,768,122</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Donald M. Sanders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">506,859</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott Van Der Kar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">970,770</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John M. Hunt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">953,971</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Link Leavens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,293,334</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dorcas H. McFarlane</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">195,133</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold Edwards<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,185,054</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>As president of Limoneira Company</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Accounts payable to these Board members were $0.4&nbsp;million and $0.2&nbsp;million as of October&nbsp;31, 2008
and 2007.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="107"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXECUTIVE COMPENSATION</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>COMPENSATION DISCUSSION AND ANALYSIS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Overview</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This compensation discussion and analysis explains the material elements of the compensation
awarded to, earned by, or paid to each of our executive officers who served as an executive officer
named below in the Summary Compensation Table during the last completed fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Compensation Program Objectives and Philosophy</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The compensation committee of our board of directors currently oversees the design and
administration of our executive compensation program. Our compensation committee&#146;s primary
objectives in structuring and administering our executive officer compensation program are to:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attract, motivate and retain talented and dedicated executive officers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>tie annual and long-term cash and stock incentives to achievement of measurable
corporate and individual performance objectives; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reinforce business strategies and objectives for enhanced shareholder value.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To achieve these goals, our compensation committee maintains compensation plans that tie a portion
of executives&#146; overall compensation to key strategic goals, such as financial and operational
performance, as measured by metrics such as net income. Our compensation committee evaluates
individual executive performance with a goal of setting compensation at levels the committee
believes are comparable with those of executives at other companies of similar size and stage of
growth, while taking into account our relative performance and our own strategic goals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The principal elements of our executive compensation program are base salary, annual cash bonus
awards, long-term equity incentives in the form of stock options, and other benefits and
perquisites. Our other benefits and perquisites consist of life and health insurance benefits and
a qualified 401(k) savings plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We view these components of compensation as related, but distinct. Although our compensation
committee does review total compensation, we do not believe that significant compensation derived
from one component of compensation should negate or offset compensation from other components. We
determine the appropriate level for each compensation component based in part, but not exclusively,
on competitive benchmarking consistent with our recruiting and retention goals, our view of
internal equity and consistency, and other considerations we deem relevant, such as rewarding
extraordinary performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Determination of Compensation Awards</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our compensation committee currently performs at least annually a strategic review of our executive
officers&#146; compensation to determine whether such compensation provides adequate incentives and
motivation to our executive officers and whether it adequately compensates our executive officers
relative to comparable officers in other similarly situated companies. Our compensation
committee&#146;s most recent review occurred in January&nbsp;2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Typically, our compensation committee meetings have included, for all or a portion of each meeting,
the committee members and our chief executive officer. For compensation decisions relating to
executive officers other than our chief executive officer, our compensation committee typically
considers recommendations from our chief executive officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When determining compensation for our chief executive officer, our compensation committee considers
such factors as competitive industry salaries, an assessment of his contributions made during the
preceding year, and his industry expertise. Our Chief Executive Officer does not attend the
portion of the compensation committee&#146;s meetings regarding his compensation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is our policy generally to qualify compensation paid to executive officers for deductibility
under Section 162(m) of the Internal Revenue Code. Section 162(m) generally prohibits us from
deducting the compensation of officers
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">that exceeds $1,000,000, unless that compensation is based
on the achievement of objective performance goals. We believe our 2005 Stock Incentive Plan is
structured to qualify stock options and restricted stock awards under such plan as
performance-based compensation and to maximize the tax deductibility of such awards. However, we
reserve the discretion to pay compensation to our officers that may not be deductible.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Benchmarking of Compensation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The compensation committee believes it is important when making its compensation-related decisions
to be informed as to current practices of similarly situated companies. As a result, the
compensation committee reviews third-party surveys and other information collected from public
sources for executive officers at peer companies. The compensation committee also receives the
recommendation of our chief executive officer on compensation for other executive officers. The
compensation committee often engages third party consultants to advise the compensation committee
on compensation matters. Studies often review the cash and equity compensation practices of
multiple companies with annual revenues ranging from approximately $17&nbsp;million to $4.4&nbsp;billion.
While benchmarking may not always be appropriate as a stand-alone tool for setting compensation due
to the aspects of our business and objectives that may be unique to us, we generally believe that
gathering this information is an important part of our compensation-related decision-making
process.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Base Compensation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide our named executive officers and other executives with base salaries that we believe
enable us to hire and retain individuals in a competitive environment and to reward individual
performance and contribution to our overall business goals, while taking into account the unique
circumstances of our company. We review base salaries for our named executive officers annually
and increases are based on our performance and individual performance. We also take into account
the base compensation that is payable by companies that we believe to be our competitors and by
other public companies with which we believe we generally compete for executives. The base salary
of our chief executive officer, Mr.&nbsp;Cole, is reviewed and recommended by our compensation
committee, whose members are all of our independent directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In February&nbsp;2008, the compensation committee increased all of our executive officers&#146; annual base
salaries by 15%. Mr.&nbsp;Cole&#146;s annual base salary increased to approximately $466,000, Mr.&nbsp;Bruno&#146;s
increased to approximately $259,000, and Messrs.&nbsp;Ahmer, Browne, and Wedin increased to
approximately $207,000. In awarding these increases, the committee considered our performance in
2007, as well as the base salaries paid by our peer companies to similarly situated executives.
The compensation committee believes that this increase in these base annual salaries was necessary
to continue to retain these services in a competitive market. For 2008, the base salaries
accounted for approximately 47% of total compensation for our chief executive officer and
approximately 73% on average for our other named executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In February&nbsp;2009, the compensation committee increased all of our executive officers&#146; annual base
salaries by 4%. Mr.&nbsp;Cole&#146;s annual base salary increased to approximately $485,000, Mr.&nbsp;Bruno&#146;s
increased to approximately $269,000, and Messrs.&nbsp;Ahmer, Browne, and Wedin increased to
approximately $216,000. In awarding these increases, the committee considered our performance in
2008, as well as the base salaries paid by our peer companies to similarly situated executives.
The compensation committee believes that this increase in these base annual salaries was necessary
to continue to retain these services in a competitive market.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Annual Cash Bonus Awards</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In fiscal 2006, our compensation committee evaluated our cash bonus compensation practices in light
of the objectives of our compensation program. Based on this evaluation, our compensation
committee determined that it was appropriate for our executive officers to be eligible for cash
compensation pursuant to an annual cash bonus plan. Under the terms of the bonus plan, the
compensation committee established performance objectives and calculable annual target bonus
amounts for each executive officer. In determining the appropriate level of target bonus for each
officer, the compensation committee considered information provided through independent,
third-party surveys and other information collected from public sources for similar positions at
peer companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The performance objectives for fiscal year 2006, which carried forward to fiscal 2007 and fiscal
2008, were approved in fiscal 2006. For each performance objective, there is a formula that
establishes a specific cash payout
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">for each executive officer based on a percentage of net income.
The formulas for each executive officer are as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is between</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is between</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$7.5 million through $8.5</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$8.5 million through $9.5</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is above</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>million, then the bonus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>million, then the bonus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$9.5 million, then the</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>as a percent of net</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>as a percent of net</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>bonus as a percent of net</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Executive Officer</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.75</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lecil Cole will not receive a bonus pursuant to this plan until net income equals or exceeds $7.5
million.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is between</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is between</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$7.0 million through $8.0</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$8.0 million through $9.0</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>If net income is above</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>million, then the bonus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>million, then the bonus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>$9.0 million, then the</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>as a percent of net</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>as a percent of net</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>bonus as a percent of net</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Executive Officer</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>income shall be:</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur Bruno</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.25</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.75</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Ahmer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.75</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.75</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert Wedin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.75</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The executive officers shown above will not receive a bonus pursuant to this plan until net income
equals or exceeds $7.0&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe that the minimum performance objective is moderately difficult to achieve and that
performance at a high level, while devoting full time and attention to their responsibilities, will
be required for our executive officers to earn their minimum respective cash bonuses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the first quarter of fiscal 2008, related to fiscal 2007 performance, the compensation
committee approved cash bonuses under our bonus plan as follows: Mr.&nbsp;Cole, approximately $256,000,
Mr.&nbsp;Bruno, approximately $91,000, Mr.&nbsp;Ahmer, Mr.&nbsp;Browne and Mr.&nbsp;Wedin, approximately $37,000.
These cash bonuses represented approximately 24% of Mr.&nbsp;Cole&#146;s 2007 annual salary and approximately
18% on average for our other named executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the first quarter of fiscal 2009, related to fiscal 2008 performance, the compensation
committee approved cash bonuses under our bonus plan as follows: Mr.&nbsp;Cole, approximately $271,000,
Mr.&nbsp;Bruno, approximately $97,000, Mr.&nbsp;Ahmer, Mr.&nbsp;Browne and Mr.&nbsp;Wedin, approximately $39,000.
These cash bonuses represented approximately 28% of Mr.&nbsp;Cole&#146;s 2008 annual salary and approximately
17% on average for our other named executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In August&nbsp;2006, we entered into a Cash Bonus Award Agreement with Mr.&nbsp;Cole. Pursuant to such
agreement, we agreed to pay five annual cash bonus payments to Mr.&nbsp;Cole, with each payment being
equal to 738 multiplied by the trading volume weighted average last reported sales price of
Limoneira Company&#146;s (a Delaware corporation) common stock for the immediate preceding 30 business
days from each anniversary. During fiscal 2008, the total bonus paid was approximately $189,000.
During fiscal 2007, the total bonus paid was approximately $240,000. Mr.&nbsp;Cole is entitled to
receive subsequent annual bonus payments only if he is serving as Calavo&#146;s Chief Executive Officer
at the time of each payment. Additionally, in March&nbsp;2007, Mr.&nbsp;Cole received a $150,000 stay-bonus
payment for services to be rendered from March&nbsp;2007 through February&nbsp;2008 (this bonus payment was
approved by the Board of Directors in fiscal 2006). The 2008 bonus payment, which was contemplated
as a result of Mr.&nbsp;Cole&#146;s valuable contributions to the Company, represented approximately 20% of
Mr.&nbsp;Cole&#146;s fiscal 2008 salary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Equity Compensation</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe that equity ownership by our executive officers provides important incentives to build
shareholder value and align the interests of executive officers with those of our shareholders.
The compensation committee develops its equity award determinations based on its judgments as to
whether the complete compensation packages provided
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to our executives, including prior equity
awards, are sufficient to retain, motivate and adequately reward the executives. This judgment is
based in part on information provided by reviewing the equity compensation practices of companies
that we believe to be our competitors and by other public companies with which we believe we
generally compete for executives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have not granted any equity awards to our named executive officers since fiscal 2005, whereby
our named executive officers were granted equity awards. In light of the appreciation in value, we
believe that the 2005 grant, in conjunction with the increase in base pay discussed above, has
sufficiently incentivized our executives and thus the objectives of our executive compensation
program have been met without granting additional equity awards to our named executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We grant equity compensation to our executive officers and other employees under our 2005 Stock
Incentive Plan, which we refer to as the 2005 Plan. Outstanding stock options have either a 5-year
contractual term from the grant date or a 5-year contractual term from the vesting date. Beginning
November&nbsp;2005, we began accounting for stock-based payments in accordance with the requirements of
FASB Statement 123R.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For fiscal 2008, no equity incentives were awarded to our named executive officers. For fiscal
2009, our compensation committee has not determined what, if any, equity incentives it will award
to our named executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Executive Benefits and Perquisites</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide the opportunity for our named executive officers and other executives to receive certain
perquisites and general health and welfare benefits. We also offer participation in our defined
contribution 401(k) plan. After three months of service, we contribute 100% of the participants&#146;
contributions to their 401(k) plan, at a cap of 6%. We provide these benefits to create additional
incentives for our executives and to remain competitive in the general marketplace for executive
talent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>COMPENSATION COMMITTEE REPORT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Compensation Committee of the Board of Directors of Calavo Growers, Inc. has reviewed and
discussed with management the Compensation Discussion and Analysis. Based on this review and
discussion, it has recommended to the Board of Directors that the Compensation Discussion and
Analysis be included in this proxy statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>COMPENSATION COMMITTEE</B><BR>
Fred Ferrazzano, Chair<BR>
John Hunt<BR>
Alva Snider<BR>
Egidio Carbone

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table shows information concerning the annual compensation for services provided to
us by our Chief Executive Officer, our Chief Operating and Financial Officer, and our three other
most highly compensated executive officers during 2008.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SUMMARY COMPENSATION TABLE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Non-Equity</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>All</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Name and</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Incentive Plan</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Other</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Principal</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Salary</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Year</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">451,230</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">459,345</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">39,853</TD>

<TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">950,428</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Executive Officer, President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">395,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">646,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">41,573</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">1,083,228</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur Bruno</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250,287</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96,636</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">41,233</TD>

<TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">388,156</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief
Operating Officer, Chief  Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">219,209</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">91,595</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">36,518</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">347,322</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Ahmer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,519</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">38,811</TD>

<TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">277,984</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:0px; text-indent:-0px">Vice President, Processed Product Sales and Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">174,938</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">36,638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">37,823</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">249,399</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,519</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">43,741</TD>

<TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">282,914</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Fresh Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">175,621</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">36,638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">42,897</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">255,156</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert Wedin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,519</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">36,973</TD>

<TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">276,146</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Sales and Fresh Marketing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">2007</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">175,621</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">36,638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">36,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">248,627</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>


<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Reflects amounts that were earned under the cash bonus plan for officers
discussed above in the Compensation Discussion and Analysis and, for Mr.&nbsp;Cole, also
includes $189,000 earned in 2008 under the Cash Bonus Award Agreement discussed above and
$240,000 earned in 2007 under the Cash Bonus Award Agreement.</TD>
</TR>
<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Consists of (i) $15,824 we paid on behalf of Mr.&nbsp;Cole related to health
insurance, (ii) $11,196 we paid to Mr.&nbsp;Cole related to a car allowance, and (iii) $12,833
of contributions made by us to our 401(k) plan on behalf of Mr.&nbsp;Cole.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Consists of (i) $14,822 we paid on behalf of Mr.&nbsp;Bruno related to health
insurance, (ii) $11,196 we paid to Mr.&nbsp;Bruno related to a car allowance, and (iii) $15,215
of contributions made by us to our 401(k) plan on behalf of Mr.&nbsp;Bruno.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Consists of (i) $14,444 we paid on behalf of Mr.&nbsp;Ahmer related to health
insurance, (ii) $11,000, which represents the estimated personal usage of a company-leased
car (based upon the lease payments we made), and (iii) $13,367 of contributions made by us
to our 401(k) plan on behalf of Mr.&nbsp;Ahmer.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Consists of (i) $19,969 we paid on behalf of Mr.&nbsp;Browne related to health
insurance, (ii) $11,196 we paid to Mr.&nbsp;Browne related to a car allowance, and (iii) $12,576
of contributions made by us to our 401(k) plan on behalf of Mr.&nbsp;Browne.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">

<TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Consists of (i) $11,925 we paid on behalf of Mr.&nbsp;Wedin related to health
insurance, (ii) $11,196 we paid to Mr.&nbsp;Wedin related to a car allowance, and (iii) $13,852
of contributions made by us to our 401(k) plan on behalf of Mr.&nbsp;Wedin.</TD>
</TR>


</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>GRANTS OF PLAN-BASED AWARDS IN FISCAL YEAR 2008</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11">Estimated Future Payouts</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11">Under Non-Equity</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000">Incentive Plan Awards<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Grant</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Threshold</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Target</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Maximum</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap>January 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">270,580</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Executive Officer, President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur Bruno</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">January 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">96,636</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Operating Officer, Chief Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Ahmer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">January 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Processed Product Sales and
Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">January 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Fresh Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert Wedin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">January 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">38,654</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Sales and Fresh Marketing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD> Our current cash bonus plan for officers discussed above under Compensation
Discussion and Analysis has minimum thresholds, by officer, but no target or maximum payout
amounts. For each performance objective, there is a formula that establishes a specific
cash payout for each executive officer based on a percentage of net income (see previous
discussion). Amounts shown above in the table reflect amounts that were earned by each
officer with respect to the 2008 fiscal year.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD> See the Summary Compensation Table and the discussion under Compensation
Discussion and Analysis.</TD>
</TR>

</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table summarizes the number of securities underlying outstanding option awards
pursuant to our 2005 Stock Incentive Plan for each named executive officer as of October&nbsp;31, 2008.
There were no outstanding, un-exercisable options as of October&nbsp;31, 2008.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="11" style="border-bottom: 1px solid #000000"><B>Option Awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Underlying</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Unexercised</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Options</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Exercise</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Option</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(#)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Expiration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exercisable</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap>August 2010</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Executive Officer, President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur Bruno</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">August 2010</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Operating Officer, Chief Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Ahmer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">August 2010</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Processed Product Sales and
Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Fresh Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert Wedin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">9.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">August 2010</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Sales and Fresh Marketing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OPTION EXERCISES AND STOCK VESTED</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table provides information regarding exercises of stock options by each of our named
executive officers during the 2008 fiscal year.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Option Awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares Acquired on</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Value Realized on Exercise</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exercise</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>($)</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lecil Cole</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Executive Officer, President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arthur Bruno</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Operating Officer, Chief
Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alan Ahmer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Processed Product
Sales and Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael Browne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">102,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Fresh Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Robert Wedin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vice President, Sales and Fresh
Marketing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Represents the difference between the exercise price and the fair market value of
the common stock on the date of exercise.</TD>
</TR>

</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In fiscal 2008, the members of our Compensation Committee were Fred Ferrazzano, John Hunt, Alva
Snider, Egidio Carbone, and Alan Van Wagner, who were all non-employee directors. Mr.&nbsp;Van Wagner
resigned as a director effective August&nbsp;28, 2008. None of such committee members (i)&nbsp;was, during
fiscal 2008, an officer or employee of us or any of our subsidiaries, (ii)&nbsp;with the exception of
Mr.&nbsp;Carbone, is formerly an officer of us or any of our subsidiaries, or (iii)&nbsp;had any relationship
requiring disclosure by us pursuant to any paragraph of Item&nbsp;404 of SEC Regulation&nbsp;S-K.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>EQUITY COMPENSATION PLAN INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table sets forth information regarding our compensation plans (including individual
compensation arrangements) under which shares of our common stock were authorized for issuance as
of October&nbsp;31, 2008:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Weighted-average</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Exercise Price of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of Securities Remaining</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of Securities to be</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Outstanding</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Available for Future Issuance Under</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Issued Upon Exercise of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Options,</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000">Equity Compensation Plans</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Outstanding Options,</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Warrants and</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(Excluding Securities Reflected in</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Warrants and Rights</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Rights</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Column (a))</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Plan Category</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(a)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(b)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(c)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity compensation
plans approved by
shareholders
<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">360,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">10.02</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,995,750</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>The plans in this category include the 2005 Stock Incentive Plan of Calavo Growers,
Inc. and our 2001 Stock Purchase Plan for Officers and Employees. We do not have any equity
compensation plans that have not been approved by our shareholders.</TD>
</TR>

</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2005 STOCK INCENTIVE PLAN OF CALAVO GROWERS, INC.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The purpose of the 2005 Stock Incentive Plan of Calavo Growers, Inc. 2005 Plan (the &#147;2005 Plan&#148;) is
to (i)&nbsp;encourage employees, officers, directors, consultants, and advisors to improve operations
and increase the profitability of Calavo, (ii)&nbsp;encourage selected employees, officers, directors,
consultants and advisors to accept or continue employment or association with Calavo or its
affiliates and (iii)&nbsp;increase the interest of selected employees, officers, directors, consultants,
and advisors in Calavo&#146;s welfare through participation in the growth in value of our common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The 2005 Plan authorizes the granting of the following types of awards to persons who are
employees, officers, consultants, advisors, or directors of Calavo Growers, Inc. or any of its
affiliates:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Incentive stock options&#148; that are intended to satisfy the requirements of Section&nbsp;422 of
the Internal Revenue Code of 1986, as amended, and the regulations thereunder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Non-qualified stock options&#148; that are not intended to be incentive stock options; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shares of common stock that are subject to specified restrictions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Subject to the adjustment provisions of the 2005 Plan that are applicable in the event of a stock
dividend, stock split, reverse stock split or similar transaction, up to 2,500,000 shares of common
stock may be issued under the 2005 Plan and no person shall be granted awards under the 2005 Plan
during any 12-month period that cover more then 500,000 shares of common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In August&nbsp;2005, our Board of Directors approved the issuance of options to acquire a total of
400,000 shares of our common stock to various employees of the Company. The options vest if the
closing price of our common stock is at least $11.00 per share at any time throughout the life of
the option. At no time, however, may any options vest within one year from the date of grant.
Additionally, such options have an exercise price of $9.10 per share and a term of 5&nbsp;years from the
grant date. The market price of our common stock at the grant date was $9.10. In April&nbsp;2006, the
price of our common stock reached $11/per share. Therefore, all 400,000 options related to our
stock option grant that took place in August&nbsp;2005 vested in August&nbsp;2006 (for those persons still
employed).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Additionally, in December&nbsp;2006, our Board of Directors approved the issuance of options to acquire
a total of 20,000 shares of our common stock to two members of our Board of Directors. Each grant
to acquire 10,000 shares
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">vests in increments of 2,000 per annum over a five-year period and has an
exercise price of $10.46 per share. Vested options have a term of five years from the vesting
date. The market price of our common stock at the grant date was $10.46. The estimated fair
market value of such option grant was approximately $40,000. During the year ended October&nbsp;31,
2007, 20,000 options had been granted (as discussed above) and 78,000 had been exercised.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In May&nbsp;2008, our Board of Directors approved the issuance of options to acquire a total of 58,000
shares of our common stock to three members of our Board of Directors. Each grant vests in equal
increments over a five-year period and has an exercise price of $14.58 per share. Vested options
have a term of five years from the vesting date. The market price of our common stock at the grant
date was $14.58. The estimated fair market value of such option grants were approximately $184,000.
During the year ended October&nbsp;31, 2008, 58,000 options had been granted (as discussed above), 8,000
options were forfeited and 23,000 had been exercised.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The 2005 Plan is administered by our Compensation Committee, although the Board of Directors has
the authority under the 2005 Plan to elect to administer all or selected portions of the 2005 Plan.
The Compensation Committee is responsible for selecting the officers, employees, directors,
consultants and advisers, if any, who will receive options and restricted stock. Subject to the
requirements imposed by the 2005 Plan, the Compensation Committee is also responsible for
determining the terms and conditions of each option award, including the number of shares subject
to the option, the exercise price, expiration date and vesting period of the option and whether the
option is an incentive stock option or a non-qualified stock option. Subject to the requirements
imposed by the 2005 Plan, the Compensation Committee is also responsible for determining the terms
and conditions of each restricted stock grant, including the number of shares granted, the purchase
price (if any) and the vesting, transfer and other restrictions imposed on the stock. The
Compensation Committee has the power, authority and discretion to make all other determinations
deemed necessary or advisable for the administration of the 2005 Plan or of any award under the
2005 Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under current law, only officers and other employees are entitled to receive incentive stock
options. The exercise price for an incentive stock option may not be less than 100% of the fair
market value of the common stock on the date of the grant of the option. With respect to an option
holder who owns stock possessing more than 10% of the total voting power of all classes of our
stock, the exercise price for an incentive stock option may not be less than 110% of the fair
market value of the common stock on the date of the grant of the option. The 2005 Plan also
requires that the exercise price for non-qualified stock options not be less than 100% of the fair
market value of the common stock on the date of the grant of the option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Unless otherwise determined by the Compensation Committee, options granted under the 2005 Plan are
generally not transferable, except by will or the laws of descent and distribution. Except as
otherwise provided in the option agreement, an option ceases to be exercisable ninety days after
the termination of the option holder&#146;s employment with us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors may, at any time, amend, discontinue or terminate the 2005 Plan. With
specified exceptions, no amendment, suspension or termination of the plan may adversely affect
outstanding options or the terms that are applicable to outstanding restricted stock. No amendment
or suspension of the 2005 Plan requires shareholder approval unless such approval is required under
applicable law or under the rules of any stock exchange or Nasdaq market on which our stock is
traded. Unless terminated earlier by the Board of Directors, the 2005 Plan will terminate
automatically in February&nbsp;2014, which is ten years after the adoption of the plan by the Board of
Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to Section 162(m) of the Internal Revenue Code, Calavo may not deduct compensation in
excess of $1,000,000 paid to each of its chief executive officer and the four next most highly
compensated executive officers unless certain exceptions are satisfied. Calavo intends to satisfy
the exceptions from the limitation of Section 162(m) as to options and restricted stock under the
2005 Plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2001 STOCK PURCHASE PLAN FOR OFFICERS AND EMPLOYEES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our 2001 Stock Purchase Plan for Officers and Employees provides for the grant to our officers
and employees of awards that entitle them to purchase shares of our common stock. Up to 2,100,000
shares of our common stock may be issued under the plan. That amount is subject to the plan&#146;s
anti-dilution adjustment provisions in the event of a stock split, reverse stock split, stock
dividend, recapitalization, or similar transaction. As of January&nbsp;31, 2009,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">we had issued
approximately 279,390 shares under the plan upon the exercise of awards at a price of $7.00 per
share. There were no outstanding but unexercised awards as of that date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The plan is administered by our Board of Directors, although the board has discretion to
appoint a committee to administer the plan. The plan administrator is responsible for selecting
the officers and employees who will receive awards. Subject to the requirements imposed by the
plan, the administrator is also responsible for determining the terms and conditions of each award,
including the number of shares subject to the award and the purchase price of the shares that are
subject to the award. The purchase price, however, may not be less than the fair market value of
the common stock on the date of the award.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards granted under the plan are not transferable except by will or the laws of descent and
distribution. Except as otherwise determined by the plan administrator, an unexercised award will
terminate upon the termination of an officer&#146;s or employee&#146;s employment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may at any time amend, suspend, or terminate the plan. With specified
exceptions, no amendment, suspension, or termination of the plan may adversely affect outstanding
awards. No amendment, suspension, or termination of the plan requires shareholder approval unless
such approval is required under applicable law or under the rules of the NASDAQ market system.
Unless terminated earlier by the Board of Directors, the plan will terminate automatically in
December&nbsp;2011.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="108"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PRINCIPAL AUDITOR FEES AND SERVICES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee has appointed Ernst &#038; Young LLP (&#147;EY&#148;) as our independent registered
public accounting firm for the fiscal year ending October&nbsp;31, 2009. Representatives of EY are
expected to be present at the annual meeting, will have the opportunity to make a statement if they
desire to do so, and are expected to be available to respond to appropriate questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Fees Incurred by Calavo Growers, Inc. for Ernst &#038; Young LLP</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table shows the fees paid or accrued by us for audit and other services provided by
EY for fiscal 2008 and 2007 (in thousands).
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit Fees <SUP style="font-size: 85%; vertical-align: text-top">(1) </SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,084</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit-Related Fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tax Fees <SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">282</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,428</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,246</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All services rendered by Ernst &#038; Young LLP were pre-approved by the Audit Committee. The Audit
Committee has adopted a pre-approval policy that provides for the pre-approval of all services to
be performed for us by Ernst &#038; Young LLP. The policy authorizes the Audit Committee to delegate to
one or more of its members pre-approval authority with respect to permitted services. Pursuant to
this policy, the Board delegated such authority to the Chairman of the Audit Committee. All
pre-approval decisions must be reported to the Audit Committee at its next meeting. The audit
committee has concluded the provision of the non-audit services listed above is compatible with
maintaining the independence of Ernst &#038; Young LLP.
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Audit fees represent fees for professional services provided in connection with the audit of
our financial statements, including the audit of management&#146;s assessment of internal control
over financial reporting, and review of our quarterly financial statements and audit services
provided in connection with other statutory or regulatory filings.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>For fiscal year 2008, tax fees principally included tax compliance fees of approximately
$126,000, and tax advice fees totaling approximately $156,000. For fiscal years 2007, tax
fees principally included tax compliance fees of approximately $ 111,000, and tax advice fees
totaling approximately $51,000.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left">
<A name="109"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>REPORT OF THE AUDIT COMMITTEE OF<BR>
THE BOARD OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee represents and assists the Board in fulfilling its responsibilities for general
oversight of the integrity of our financial statements, our compliance with legal and regulatory
requirements, the independent registered public accounting firm&#146;s qualifications and independence,
the performance of our internal audit function and independent registered public accounting firm,
and risk assessment and risk management. The Audit Committee manages our relationship with its
independent registered public accounting firm (which reports directly to the Audit Committee). The
Audit Committee has the authority to obtain advice and assistance from outside legal, accounting or
other advisors as the Audit Committee deems necessary to carry out its duties and receives
appropriate funding, as determined by the Audit Committee, from Calavo for such advice and
assistance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our management is primarily responsible for our internal control and financial reporting process.
Our independent registered public accounting firm, Ernst &#038; Young LLP, is responsible for performing
an independent audit of our consolidated financial statements and issuing opinions on the
conformity of those audited financial statements with United States generally accepted accounting
principles and the effectiveness of our internal control over financial reporting. The Audit
Committee monitors our financial reporting process and reports to the Board on its findings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this context, the Audit Committee hereby reports as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1.&nbsp;The Audit Committee has reviewed and discussed the audited financial statements with our
management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.&nbsp;The Audit Committee has discussed with the independent registered public accounting firm the
matters required to be discussed by the Statement on Auditing Standards No.&nbsp;61, as amended
(Codification of Statements on Auditing Standards, AU 380), as adopted by the Public Company
Accounting Oversight Board (&#147;PCAOB&#148;) in Rule&nbsp;3200T.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3.&nbsp;The Audit Committee has received the written disclosures and the letter from the independent
registered public accounting firm required by PCAOB Ethics and Independence Rule&nbsp;3526,
&#147;Communication with Audit Committees Concerning Independence,&#148; and has discussed with the
independent registered public accounting firm its independence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4.&nbsp;Based on the review and discussions referred to in paragraphs (1)&nbsp;through (3)&nbsp;above, the Audit
Committee recommended to the Board, and the Board has approved, that the audited financial
statements be included in our Annual Report on Form 10-K for the fiscal year ended October&nbsp;31,
2008, for filing with the Securities and Exchange Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned members of the Audit Committee have submitted this Report to the Board of
Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Audit Committee
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Michael D. Hause, Chairman<BR>
George H. Barnes<BR>
Fred J. Ferrazzano<BR>
John M. Hunt<BR>
Egidio Carbone

</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="110"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ADDITIONAL INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SHAREHOLDERS ENTITLED TO VOTE AT THE ANNUAL MEETING MAY OBTAIN, WITHOUT CHARGE, A COPY OF OUR
ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED OCTOBER 31, 2008, OTHER THAN EXHIBITS TO SUCH
REPORT, UPON WRITTEN OR ORAL REQUEST TO CALAVO GROWERS, INC., 1141-A CUMMINGS ROAD, SANTA PAULA,
CALIFORNIA 93060, TELEPHONE (805)&nbsp;525-1245, ATTENTION ARTHUR J. BRUNO. WE WILL ALSO FURNISH TO
SUCH PERSONS A COPY OF ANY EXHIBITS TO OUR ANNUAL REPORT ON FORM 10-K FOR A FEE OF $.20 PER PAGE,
PAYABLE IN ADVANCE. THIS FEE COVERS ONLY OUR REASONABLE EXPENSES IN FURNISHING THE EXHIBITS.</B>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 16pt; margin-top: 18pt"><B>CALAVO GROWERS, INC.</B>
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>PROXY FOR THE ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD APRIL 22, 2009<BR>
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Lecil E. Cole and J. Link Leavens, and each of them, as the
attorneys, agents and proxies of the undersigned, with full power of substitution to each, to
attend and act as proxy or proxies of the undersigned at the Annual Meeting of Shareholders of
Calavo Growers, Inc. to be held at 15765 W. Telegraph Road, Santa Paula, California, 93060 on
Wednesday, April&nbsp;22, 2009 at 1:00 p.m., and at any and all adjournments thereof, and to vote as
specified herein the number of shares which the undersigned, if personally present, would be
entitled to vote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148; THE ELECTION OF THE DIRECTORS NOMINATED BY THE
BOARD OF DIRECTORS AND &#147;FOR&#148; RATIFICATION OF THE APPOINTMENT OF ERNST &#038; YOUNG LLP. THIS PROXY,
WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS MADE, IT WILL BE VOTED &#147;FOR&#148;
DIRECTORS NOMINATED BY THE BOARD OF DIRECTORS AND &#147;FOR&#148; THE RATIFICATION OF THE APPOINTMENT OF
ERNST &#038; YOUNG LLP. IF NO DIRECTION IS MADE, THE VOTING POWER GRANTED TO THE PROXIES INCLUDES THE
POWER TO VOTE CUMULATIVELY IN THE ELECTION OF DIRECTORS IF DEEMED NECESSARY OR APPROPRIATE BY THE
PROXIES.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PLEASE SIGN AND DATE ON THE REVERSE SIDE</B>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size:10pt">1. ELECTION OF DIRECTORS</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div style="font-size: 14pt"><FONT face="Wingdings">&#111;</FONT></div>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size:8pt"><B>FOR </B>all nominees
listed below
(except to withhold
authority to vote
for any individual
nominee or
nominees, strike a
line through the
name(s) of the
nominee(s) below.</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div style="font-size: 14pt"><FONT face="Wingdings">&#111;</FONT></div>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size:8pt"> <B>WITHHOLD AUTHORITY</B>
to vote for all
nominees listed
below</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div style="font-size: 14pt"><FONT face="Wingdings">&#111;</FONT></div>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size:8pt"><B>* CUMULATIVE VOTING<BR>
ELECTION</B></FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 1%"><B>*
(INSTRUCTIONS: If you desire to allocate your votes to individual nominees on a cumulative
basis, as explained in the accompanying Proxy Statement, mark the &#147;CUMULATIVE VOTING ELECTION&#148; box
and indicate the number of votes that you would like to have cast FOR each nominee. The total of
the votes you cast on this proxy may not exceed the number of shares you own times thirteen. For
example, if you own 100 shares, you are entitled to cast 1,300 votes for director nominees.
However, if you have cast your proxy for either of the other above two choices, do not complete
this table.)</B>
</DIV>

<DIV align="CENTER">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="60%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Director Nominee Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number of Votes</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lecil E. Cole
</DIV></TD>
    <TD>&nbsp;</TD>
     <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>


    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">George H. Barnes
</DIV></TD>
    <TD>&nbsp;</TD>
         <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>




    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael D. Hause
</DIV></TD>
    <TD>&nbsp;</TD>
           <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>





    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Donald M. Sanders
</DIV></TD>
    <TD>&nbsp;</TD>
           <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>





    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Fred J. Ferrazzano
</DIV></TD>
    <TD>&nbsp;</TD>
         <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>



    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Alva V. Snider
</DIV></TD>
    <TD>&nbsp;</TD>
            <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>




    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Scott Van Der Kar
</DIV></TD>
    <TD>&nbsp;</TD>
            <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>




    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">J. Link Leavens
</DIV></TD>
    <TD>&nbsp;</TD>
          <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>





    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dorcas H. McFarlane
</DIV></TD>
    <TD>&nbsp;</TD>
          <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>



    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John M. Hunt
</DIV></TD>
    <TD>&nbsp;</TD>
          <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>





    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Egidio Carbone, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
       <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>



    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Harold Edwards
</DIV></TD>
    <TD>&nbsp;</TD>
        <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>




    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Steven Hollister
</DIV></TD>
    <TD>&nbsp;</TD>
         <TD align="center" valign="top"><div style="border-bottom: 1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>


    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Votes FOR</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Total Votes Cast:</B>
</DIV></TD>
    <TD>&nbsp;</TD>

    <TD align="center" valign="top"><div style="border-bottom: 3px double #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div>
</TD>

    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2. RATIFICATION OF APPOINTMENT OF
ERNST &#038; YOUNG LLP as independent registered public accounting
firm  of
Calavo Growers, Inc. for the year ending October&nbsp;31,
2009.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3. OTHER BUSINESS.
In their
discretion, the
proxies are
authorized to vote
upon such other
business as may
properly come
before the meeting
and at any and all
adjournments
thereof. The Board
of Directors, at
present, knows of
no other business
to be presented by
or on behalf of
Calavo Growers,
Inc. or the Board
of Directors at the
meeting.</TD>
</TR>


<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;
<B>FOR</B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;<B>AGAINST</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;<B>ABSTAIN</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><div style="font-size: 10pt">I (WE)&nbsp;WILL&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;WILL NOT &nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;ATTEND THE MEETING IN PERSON.</div></TD>
</TR>


<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The undersigned hereby ratifies and confirms
all that the attorneys and proxies, or
either of them, or their substitutes, shall
lawfully do or cause to be done by virtue
hereof, and hereby revokes any and all
proxies heretofore given by the undersigned
to vote at the meeting. The undersigned
acknowledges receipt of the Notice of Annual
Meeting and the Proxy Statement accompanying
such notice.</TD>
</TR>

<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ADDRESS LABEL</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dated:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,2009</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>THIS SPACE MUST BE LEFT BLANK</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>



<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Signature</TD>
</TR>
<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>




<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>

<TR style="font-size: 10pt">
   <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Signature</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Please date this proxy card and sign above
exactly as your name appears on this card.
Joint owners should each sign personally.
Corporate proxies should be signed by an
authorized officer. Executors,
administrators, trustee, etc., should give
their full titles.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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