Alico, Inc. Announces Regular Quarterly Dividend and Election of Directors

LA BELLE, Fla., Jan. 22, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced at its annual stockholders meeting held on Friday, January 18, 2008, the election by stockholders of JD Alexander, John R. Alexander, Robert E. Lee Caswell, Evelyn D'An, Phillip S. Dingle, Gregory T. Mutz, Charles Palmer, Robert J. Viguet, Jr. and Dr. Gordon Walker to serve on the Company's Board of Directors.

At its meeting following the Annual Stockholders meeting, the Board declared a regular quarterly dividend in the amount of $0.275 per share to be paid to shareholders of record as of April 30, 2008 with payment expected on or about May 16, 2008.

The Board also re-elected Mr. John R. Alexander as Chairman and Mr. Mutz as Lead Director, and made the following committee appointments:

 Audit:

       Chairman:                     Phillip S. Dingle
       Financial Expert:             Evelyn D'An
                                     Gregory T. Mutz
                                     Gordon Walker

 Compensation:

       Chairman:                     Charles L. Palmer
                                     Gregory T. Mutz
                                     Robert J. Viguet, Jr.
                                     Gordon Walker

 Nominating and Corporate Governance:

       Chairman:                     Gordon Walker
                                     Evelyn D'An
                                     Gregory T. Mutz
                                     Charles L. Palmer

 Strategy and Business Development:

       Chairman:                     Gordon Walker
                                     JD Alexander
                                     Phillip S. Dingle
                                     Gregory T. Mutz
                                     Charles L. Palmer
                                     Robert J. Viguet, Jr.

 The Board also elected the following officers:

 CEO:                                John R.  Alexander
 President and COO:                  Dan L. Gunter
 SVP, CFO,
 Treasurer and Assistant Secretary:  Patrick W. Murphy
 SVP, Human Resources and
 Information Technology:             Michael R. Talaga
 SVP, Ag-Operations:                 Steven M. Smith
 Corporate Secretary:                A. Denise Plair
 Director of Accounting, Controller
 and Assistant Treasurer:            Jerald R. Koesters

About Alico, Inc.

Alico, Inc., a land management company operating in Central and Southwest Florida, owns approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and Polk counties. Alico is involved in various agricultural operations and real estate activities. Alico's mission is to grow its asset values through its agricultural and real estate activities to produce superior long-term returns for its shareholders.

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements"' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

Released January 22, 2008