La Belle, Florida
ALICO, INC. ANNOUNCES CHANGE OF ACCOUNTANTS DUE TO ACCOUNTING FIRM MERGER
La Belle, FL., June 15, 2007 Alico, Inc. (NASDAQ: ALCO) a land management company, announced
today that it has received notice on June 11, 2007 that its independent registered certified public
accountants, the firm of Tedder, James, Worden & Associates in Orlando, Florida, has merged with
McGladrey & Pullen, LLP, effective as of June 5, 2007. As a result of such merger, Alicos letters
of engagement with Tedder, James, Worden & Associates have been rescinded and new letters of
engagement with McGladrey & Pullen, LLP have been approved by Alicos Audit Committee. Phillip S.
Dingle, Chairman of the Audit Committee, stated that Alico has enjoyed a three year association
with Tedder, James, Worden & Associates and looks forward to continuing to receive the same level
of service and attention from the partners principally responsible for Alicos audit now that such
partners have joined McGladrey & Pullen, LLP.
About Alico, Inc.
Alico, Inc., a land management company operating in Central and Southwest Florida, owns
approximately 136,500 acres of land located in Collier, Glades, Hendry, Lee and Polk counties.
Alico intends to grow its asset values and earnings through enhancements to its agricultural
businesses and proactive management of its real estate holdings.
For Further Information Contact:
John R. Alexander
La Belle, Florida
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 Companys reports and
registration statements filed with the Securities and Exchange Commission.
For further information contact: John R. Alexander