ALICO, INC. — Director's Dealing 2004

Jan 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALICO INC (alco)
CIK: 0000003545
Period of Report: 2004-01-27

Reporting Person: LESTER W BERNARD (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-27	Alico, Inc. Common Stock, Par Value $1.00	M	2500	$14.62	Acquired	9320	Direct
2004-01-27	Alico, Inc. Common Stock, Par Value $1.00	S	1000	$38	Disposed	8320	Direct
2004-01-27	Alico, Inc. Common Stock, Par Value $1.00	S	500	$38.15	Disposed	7820	Direct
2004-01-27	Alico, Inc. Common Stock, Par Value $1.00	S	1000	$38.1	Disposed	6820	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-27	Option for Common Stock	$14.62	M	2500	Acquired	2009-09-09	Common Stock (2500)	Direct
2004-01-27	Option for Common Stock	$14.62	S	2500	Disposed	2009-09-09	Common Stock (2500)	Direct