<SEC-DOCUMENT>0000891092-15-000997.txt : 20150209
<SEC-HEADER>0000891092-15-000997.hdr.sgml : 20150209
<ACCEPTANCE-DATETIME>20150209091449
ACCESSION NUMBER:		0000891092-15-000997
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150209
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150209
DATE AS OF CHANGE:		20150209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALICO INC
		CENTRAL INDEX KEY:			0000003545
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				590906081
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00261
		FILM NUMBER:		15586856

	BUSINESS ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913
		BUSINESS PHONE:		239-226-2000

	MAIL ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALICO LAND DEVELOPMENT CO
		DATE OF NAME CHANGE:	19740219
</SEC-HEADER>
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<TYPE>8-K
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center; text-indent: 0in"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>SECURITIES AND EXCHANGE
COMMISSION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>Washington, D.C. 20549
</B></P>

<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center; text-indent: 0in; border-top: Black 2pt solid; padding-top: 4.5pt"><B>FORM 8-K</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in; border-bottom: Black 2pt solid"><B>&nbsp;</B></P>

<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center; text-indent: 0in"><B>CURRENT REPORT
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center; text-indent: 0in"><B>PURSUANT TO SECTION
13 OR 15(d) OF THE </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>SECURITIES EXCHANGE ACT
OF 1934 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center; text-indent: 0in"><B>Date of Report (date
of earliest event reported): February 9, 2015 </B></P>

<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center; text-indent: 0in; border-top: Black 2pt solid; padding-top: 4.5pt"><FONT STYLE="font-size: 24pt"><B>Alico,
Inc.</B></FONT><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>(Exact name of registrant
as specified in its charter) </B></P>

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    <TD STYLE="vertical-align: top; text-align: center; text-indent: 0in; font-size: 10pt; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Florida</b></font></td>
    <TD STYLE="vertical-align: bottom; text-indent: 0in; font-size: 7.5pt; width: 2%">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center; text-indent: 0in; font-size: 10pt; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>0-261</b></font></td>
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    <TD STYLE="vertical-align: top; text-align: center; text-indent: 0in; font-size: 10pt; width: 32%"><font style="font: 10pt Times New Roman, Times, Serif"><b>59-0906081</b></font></td></tr>
<tr style="background-color: white">
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><b>(State or other jurisdiction</b></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center; text-indent: 0in"><b>of incorporation)</b></P></td>
    <TD STYLE="vertical-align: bottom; text-indent: 0in; font-size: 7.5pt">&nbsp;</td>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><b>(Commission</b></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center; text-indent: 0in"><b>File Number)</b></P></td>
    <TD STYLE="vertical-align: bottom; text-indent: 0in; font-size: 7.5pt">&nbsp;</td>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><b>(I.R.S. Employer</b></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center; text-indent: 0in"><b>Identification
        No.)</b></P></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center; text-indent: 0in"><B>10070 Daniels Interstate
Court </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>Fort Myers, Florida, 33913
</B></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>(Address of principal
executive offices) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center; text-indent: 0in"><B>Registrant&rsquo;s
telephone number: (239)&nbsp;226-2000 </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 0in">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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    <td style="width: 96%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. 230.425) </font></td></tr>
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    <td style="width: 4%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Wingdings">&#168;</font></td>
    <td style="width: 96%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. 240.14a-12) </font></td></tr>
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    <td style="width: 4%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Wingdings">&#168;</font></td>
    <td style="width: 96%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14D-2(b)) </font></td></tr>
</table>

<P STYLE="font: 4.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<tr style="vertical-align: top; background-color: white">
    <td style="width: 4%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Wingdings">&#168;</font></td>
    <td style="width: 96%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c)) </font></td></tr>
</table>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; border-bottom: Black 2pt solid">&nbsp;</P>

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<tr style="vertical-align: top; background-color: white">
    <td style="width: 11%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Section 2</b></font></td>
    <td style="width: 3%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 86%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Financial Information</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Item 2.02</b></font></td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Results of Operations and Financial Condition.</b></font></td></tr>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">On February 9, 2015, Alico, Inc. issued a press
release announcing its financial results for the three months ended December 31, 2014. A copy of the press release is furnished
within this report as Exhibit 99.1.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

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    <td style="width: 11%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Section 9</b></font></td>
    <td style="width: 3%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 86%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Financial Statements and Exhibits</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Item 9.01</b></font></td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Financial Statements and Exhibits.</b></font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

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    <td style="width: 11%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">(d)</font></td>
    <td style="width: 3%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 86%; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Exhibits.</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 10pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">99.1</font></td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Alico, Inc. Press Release dated February 9, 2015</font></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 19.8pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

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    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Date: February 9, 2015</font></td>
    <td colspan="3" style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">ALICO, INC.</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="width: 42%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 4%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 4%; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="width: 50%; text-indent: 0in; font-size: 11pt">&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="padding-bottom: 1.1pt; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="padding-bottom: 1.1pt; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">By:</font></td>
    <td style="padding-bottom: 1.1pt; text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="border-bottom: black 1pt solid; text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">/s/ W. Mark Humphrey</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">W. Mark Humphrey</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td style="text-indent: 0in; font-size: 11pt">&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><i>Senior Vice President and Chief Financial Officer
        </i></P>
        <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0in">&nbsp;</P></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e62671ex99-1.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT><BR CLEAR="ALL">
<FONT STYLE="font-size: 8pt">&#9;</FONT><FONT STYLE="font-size: 10pt"><B>&#9;Exhibit 99.1</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font: 10.5pt Consolas">&#9;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;&#9;</FONT><IMG SRC="image_001.jpg" ALT="" STYLE="height: 66px; width: 148px"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>Alico, Inc. Announces Fiscal
Year 2015 First Quarter <FONT STYLE="font-size: 12pt">Financial Results</FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Fort Myers, FL, February
9, 2015 &mdash; Alico, Inc. (&ldquo;Alico&rdquo;) (NASDAQ:ALCO), an American agribusiness and land management company, today announced
financial results for the quarter ended December 31, 2014. Net income attributable to common shareholders for the first quarter
of fiscal 2015 was $5.8 million, or $.78 per basic and diluted share, compared to net loss attributable to common shareholders
of $0.7 million, or $0.10 per basic and diluted share in the first quarter of fiscal 2014. The first quarter of fiscal 2015 results
were significantly impacted by the acquisition of Orange-Co, as announced on December 3, 2014, and the disposition of approximately
36,000 gross acres of land located in Henry County, Florida in November 2014 formerly used for sugarcane production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>Fiscal Year 2015 First
Quarter Results </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">For the first quarter of
fiscal year 2015, total operating revenue was $16.2 million as compared to $15.0 million for the first quarter of fiscal year 2014,
an increase of 7.8%. The increase in operating revenue was due to an increase of $7.3 million in Citrus Groves revenues related
primarily to the Orange-Co acquisition (the &ldquo;acquisition&rdquo;) offset by a decrease in Improved Farmland revenues of $5.4
million as the Company exited the sugarcane farming operation and subsequently sold the related farmland in the first quarter of
fiscal year 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Historically, our agricultural
operations have been seasonal in nature with the second and third quarters generally producing the majority of our annual revenue
and the first and fourth quarters producing less revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Total operating expenses
for the first quarter of fiscal year 2015 were $13.0 million as compared to $12.4 million for the first quarter of fiscal year
2014, an increase of 4.8%. The slight increase in operating expenses relates to the increased citrus activity due primarily to
the acquisition offset by the elimination of sugarcane farming expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Gross profit for the first
quarter of fiscal year 2015 was $3.1 million compared to $2.6 million in the first quarter of fiscal year 2014, an increase of
$0.6 million or 22.3%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Corporate general and administrative
expenses for the first quarter of fiscal year 2015 totaled $5.4 million compared to $3.6 million in the first quarter of fiscal
year 2014, an increase of $1.9 million. The increase in general and administrative expenses for the three months ended December
31, 2014 versus the same period of the prior year relates primarily to professional and legal fees associated with the acquisition
which totaled approximately $3.6 million. The general and administrative expenses for the first quarter of fiscal year 2014 included
$1.7 million of costs incurred related to the change in control from November 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Other income (expense), net
for the three months ended December 31, 2014 is approximately $12.1 million more than the same period of the prior year due to
an approximate $1.0 million loss on extinguishment of debt, an increase of approximately $0.6 million in interest expense and a
partial recognition of the gain on sale for the sugarcane land as discussed above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Net income attributable to
common shareholders for the first quarter of fiscal 2015 was $5.8 million, or $0.78 per basic and diluted share, compared to net
loss of $0.7 million, or $0.10 per basic and diluted share in the first quarter of fiscal 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Adjusted EBITDA (defined
as net income excluding interest expense, income taxes, depreciation and amortization and transaction costs) for the first quarter
of fiscal year 2015 was $3.2 million as compared to $3.3 million for the first quarter of fiscal year 2014, an decrease of $0.1
million. A reconciliation of Adjusted EBITDA to net income is provided at the end of this release.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The Company paid a first
quarter cash dividend of $0.06 per share on its outstanding common stock on January 14, 2015, to shareholders of record at December
31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>Balance Sheet and Liquidity
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The Company had working capital
of approximately $42.0 million and $96.4 million at December 31, 2014 and September 30, 2014, respectively. The September 30, 2014
working capital balance included approximately $53.9 million in sugar land assets held for sale that were reinvested in long term
assets by December 31, 2014. Cash used in operating activities was $18.9 million for the first quarter of fiscal year 2015 as compared
to $4.1 million for the first quarter of fiscal year 2014. Availability under the revolving lines of credit was $63.4 and $60.0
million at December 31, 2014 and September 30, 2014, respectively. Due to the seasonal nature of our business, working capital
requirements are typically greater in the first and fourth quarters of our fiscal year coinciding with our harvesting cycles. Cash
flows from operating activities typically improve in our second and third fiscal quarters as we harvest our crops.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>About Alico</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Alico is a holding company
with assets and related operations in agriculture and natural resources. In addition to its citrus operations, Alico is currently
involved in cattle ranching, water management, mining and other natural resources, including approximately 113,400 acres of agricultural
assets and 90,000 acres of mineral rights. In November&nbsp;2013, 734 Investors, LLC acquired a controlling 51 percent stake in
Alico. Subsequent to this investment, the company has executed on a strategy of optimizing assets and capital allocation. The
company expects to continue this strategy by using its free cash flow and balance sheet capacity to execute additional acquisitions,
where management believes it can add value and generate attractive returns for Alico&rsquo;s shareholders. Learn more about Alico
(NASDAQ: ALCO) at&nbsp;<FONT STYLE="color: Black">www.alicoinc.com&nbsp;or follow Alico on&nbsp;Facebook&nbsp;and&nbsp;Twitter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>Forward-Looking Statements
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>This press release contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Alico&rsquo;s current expectations about
future events and can be identified by terms such as &ldquo;plans,&rdquo; &ldquo;expect,&rdquo; &ldquo;may,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;intend,&rdquo; &ldquo;should be,&rdquo; &ldquo;will be,&rdquo; &ldquo;is likely to,&rdquo; &ldquo;believes,&rdquo; and similar
expressions referring to future periods. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>Alico believes the expectations
reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance
or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore,
Alico cautions you against relying on any of these forward-looking statements. Factors which may cause future outcomes to differ
materially from those foreseen in forward-looking statements include, but are not limited to: changes in laws, regulation and rules;
weather conditions that affect production, transportation, storage, import and export of fresh product, increased pressure from
disease, insects and other pests; disruption of water supplies or changes in water allocations; pricing and supply of raw materials
and products; market responses to industry volume pressures; pricing and supply of energy; changes in interest rates; availability
of financing for land development activities; onetime events; acquisitions; seasonality; labor disruptions; inability to pay debt
obligations; inability to engage in certain transactions due to restrictive covenants in debt instruments; government restrictions
on land use; changes in agricultural land values; and market and pricing risks due to concentrated ownership of stock. Other risks
and uncertainties include those that are described in Alico&rsquo;s SEC filings, which are available on the SEC&rsquo;s website
at http://www.sec.gov. Alico undertakes no obligation to subsequently update or revise the forward-looking statements made in this
press release, except as required by law. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><B>Investor Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Mark Humphrey</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Senior Vice President and Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">(239) 226-2000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">mhumphrey@alicoinc.com</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><B>Non-GAAP Financial Measures </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Due to significant depreciable
assets associated with the nature of our operations and, to a lesser extent, interest costs associated with our capital structure,
management believes that EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted EBITDA are important
measures to evaluate our results of operations between periods on a more comparable basis. Adjusted EBITDA provides an adjusted
view of EBITDA that takes into account certain significant non-recurring transactions, if any, which vary significantly between
periods. Such measurements are not prepared in accordance with accounting principles generally accepted in the United States (&ldquo;GAAP&rdquo;)
and should not be construed as an alternative to reported results determined in accordance with GAAP. The non-GAAP information
provided is unique to Alico and may not be consistent with methodologies used by other companies. Net income which management considers
being the most directly comparable financial measure calculated and presented in accordance with GAAP is reconciled to Unaudited
EBITDA and Adjusted EBITDA, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>


<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman">



<TR vAlign=bottom>

   <TD STYLE="text-align: left"><I>(in thousands)</I></TD>

   <TD COLSPAN="6" NOWRAP STYLE="border-bottom: #000000 1px solid; text-align: center"><B>Three Months Ended December 31,</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD colSpan=3 align=center><B><U>2014</U></B></TD>

   <TD colSpan=3 align=center><B><U>2013</U></B></TD></TR>

<TR>

   <TD colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Net income&nbsp;</TD>

   <TD STYLE="text-align: left; width: 1%">$&nbsp;</TD>

   <TD STYLE="text-align: right; width: 10%">5,775</TD>

   <TD STYLE="text-align: left; width: 3%">&nbsp;</TD>

   <TD STYLE="text-align: left; width: 1%">$&nbsp;</TD>

   <TD STYLE="text-align: right; width: 10%">(704</TD>

   <TD STYLE="text-align: left; width: 1%">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Interest expense, net&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">860</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">276</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Loss on extinguishment of debt&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">946</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Income taxes&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,763</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(547</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Depreciation and amortization&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,841</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,502</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR>

   <TD colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">EBITDA&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">13,186</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,527</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Transaction Costs&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,579</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,745</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.15pt; text-align: left">Gain on sale of real estate&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,613</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">)&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt; border-bottom: Black 1pt solid">-</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR>

   <TD colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Adjusted EBITDA&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">3,151</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">3,272</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD></TR></TABLE>

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<P style="TEXT-ALIGN: center"><B>ALICO, INC. AND SUBSIDIARIES</B><BR><B>CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)</B><BR><B>(in thousands, except per share amounts)</B></P>



<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman">



<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD COLSPAN="7" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Three Months Ended December 31,</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=3 align=center><B>2014</B></TD>

    <TD>&nbsp;</TD>
   <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=3 align=center><B>2013</B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Operating revenues:</B>&nbsp;</TD>

   <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>

   <TD STYLE="text-align: left; width: 10%">&nbsp;</TD>

   <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>

    <TD STYLE="width: 3%">&nbsp;</TD>
   <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>

   <TD STYLE="text-align: left; width: 10%">&nbsp;</TD>

   <TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Citrus Groves&nbsp;</TD>

   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">12,898</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">5,633</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Agricultural Supply Chain Management&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,183</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">2,106</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Improved Farmland&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,092</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">6,532</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Ranch and Conservation&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">836</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">531</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Other Operations&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">149</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">187</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 25.44pt; text-align: left">Total operating revenue&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">16,158</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">14,989</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Operating expenses:</B>&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Citrus Groves&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">10,059</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,898</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Agricultural Supply Chain Management&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,371</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">2,325</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Improved Farmland&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">791</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">5,530</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Ranch and Conservation&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">745</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">603</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Other Operations&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">48</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">62</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 25.44pt; text-align: left">Total operating expenses&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">13,014</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">12,418</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Gross profit&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,144</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">2,571</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Corporate general and administrative&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">5,430</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,561</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Loss from operations&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(2,286</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(990</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Other income (expense), net:</B>&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Interest and investment income, net&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">2</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">36</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Interest expense&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(860</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(269</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Loss on extinguishment of debt&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(947</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Gain on sale of real estate&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">13,613</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Other income (loss), net&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">16</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">(28</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 25.44pt; text-align: left">Total other income (expense), net&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">11,824</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">(261</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Income (loss) before income taxes&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">9,538</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(1,251</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Income taxes (benefit)&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,763</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">(547</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Net income (loss) attributable to common shareholders</B>&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">5,775</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(704</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Comprehensive income, net of tax effect&nbsp;</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt; border-bottom: Black 1pt solid">-</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt; border-bottom: Black 1pt solid">-</TD>

   <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Comprehensive income (loss) attributable to common shareholders</B>&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">5,775</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 3pt double">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">(704</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Weighted-average number of shares outstanding:</B>&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Basic&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">7,367</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">7,283</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Diluted&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">7,367</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">7,283</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Earnings (loss) per common share:</B>&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Basic&nbsp;</TD>

   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">0.78</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">(0.10</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 12.72pt; text-align: left">Diluted&nbsp;</TD>

   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">0.78</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">(0.10</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Cash dividends declared per common share&nbsp;</TD>

   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">0.06</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">0.12</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR></TABLE>

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<P style="TEXT-ALIGN: center"><B>ALICO, INC. AND SUBSIDIARIES</B><BR><B>CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)</B><BR><B>(dollars in thousands, except share and per share amounts)</B></P>



<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman">



<TR vAlign=bottom>

   <TD STYLE="text-align: center">&nbsp;</TD>

   <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>

   <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 11%"><B>December 31,</B><BR><B>2014</B></TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>

    <TD STYLE="width: 3%">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>

   <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 11%"><B>September 30,</B><BR><B>2014</B></TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: center">(unaudited)</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: center"><B>ASSETS</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Current assets:</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Cash and cash equivalents&nbsp;</TD>

   <TD STYLE="text-align: right">$</TD>

   <TD STYLE="text-align: right">1,788</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">30,779</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Investments&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">264</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">263</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Accounts receivable, net&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">9,345</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,847</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Inventories&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">49,971</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">19,929</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Assets held for sale&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">2,050</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">56,681</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Other current assets&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,727</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">573</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total current assets</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">66,145</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">112,072</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Investment in Magnolia Fund&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">1,085</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,435</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Investments, deposits and other non-current assets&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">5,931</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,933</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Cash surrender value of life insurance&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">691</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">695</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Property, buildings and equipment, net&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">337,597</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">87,432</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total assets</B>&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 3pt double">$</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">411,449</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 3pt double; text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">203,567</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: center"><B>LIABILITIES &amp; STOCKHOLDERS&rsquo; EQUITY</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Current liabilities:</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Accounts payable&nbsp;</TD>

   <TD STYLE="text-align: right">$</TD>

   <TD STYLE="text-align: right">3,344</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">$&nbsp;</TD>

   <TD STYLE="text-align: right">1,729</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Long-term debt, current portion&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">9,125</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">2,000</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Accrued expenses&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">5,094</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,618</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Income taxes payable&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">3,734</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">4,572</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Dividend payable&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">442</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">442</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Accrued ad valorem taxes&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">154</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">1,850</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Capital lease obligation&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">258</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Other current liabilities&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,994</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,485</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total current liabilities</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">24,145</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">15,696</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Long-term debt, net of current portion&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">173,875</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">32,000</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Line of credit&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">14,275</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Other liability, noncurrent&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">3,750</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Deferred gain on sale&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">29,140</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Capital lease obligation, noncurrent&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">839</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">839</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Deferred income taxes, net of current portion&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">5,810</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">5,739</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Deferred retirement benefits, net of current portion&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,871</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,856</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total liabilities</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">255,705</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">58,130</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left">Commitments and contingencies&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-align: left"><B>Stockholders&rsquo; equity:</B>&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Preferred stock, no par value. Authorized 1,000,000 shares; issued and outstanding, none&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt">-</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Common stock, $1 par value; 15,000,000 shares authorized; 7,377,106 shares issued and&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">7,366,738 and 7,361,340 shares outstanding at December 31, 2014 and September 30,&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">2014, respectively&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">7,377</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">7,377</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Additional paid in capital&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">3,724</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">3,742</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Treasury stock at cost 10,368 and 15,766 shares held at December 31, 2014 and&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">September 30, 2014, respectively&nbsp;</TD>

   <TD STYLE="text-align: right">&nbsp;</TD>

   <TD STYLE="text-align: right">(427</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD>

    <TD>&nbsp;</TD>
   <TD STYLE="text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right">(650</TD>

   <TD STYLE="text-align: left">)&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Retained earnings&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">140,301</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">134,968</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total Alico stockholders&rsquo; equity</B>&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">150,975</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">145,437</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 11.88pt; text-align: left">Noncontrolling interest&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,769</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>

   <TD STYLE="text-align: right; vertical-align: middle; padding-right: 9pt; border-bottom: Black 1pt solid">-</TD>

   <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>

<TR>

   <TD COLSPAN="8">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="text-indent: 23.76pt; text-align: left"><B>Total liabilities and stockholders&rsquo; equity</B>&nbsp;</TD>

   <TD STYLE="text-align: right; border-bottom: Black 3pt double">$</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">411,449</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD>

    <TD STYLE="border-bottom: Black 3pt double; text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: Black 3pt double; text-align: left">$&nbsp;</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: right">203,567</TD>

   <TD STYLE="border-bottom: Black 3pt double; text-align: left">&nbsp;</TD></TR></TABLE>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
