Alico Adopts Long-Term Incentive Program

Alico, Inc. ALCO announced today that the Company has adopted a Long-Term Incentive Program for key executives designed to align management interests and incentives with the long-term interest of the Company's shareholders. Participants in the Long-Term Incentive Program will be eligible to earn performance-based awards of restricted stock over a five year performance period if certain performance criteria are achieved. The performance criteria are directly tied to increases in the average closing price of Alico common stock during the performance period. The Long-Term Incentive Program participants include the Chief Operating Officer, the Chief Financial Officer, the Treasury Manager and the President of Alico Land Development, Inc., but will not include the Company's Chief Executive Officer.