ALICO, INC. — Director's Dealing 2008

Aug 6, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALICO INC (ALCO)
CIK: 0000003545
Period of Report: 2008-08-04

Reporting Person: GMT CAPITAL CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-04	Common Stock	P	13738	$40.66	Acquired	782859	Direct
2008-08-05	Common Stock	P	1513	$42.49	Acquired	784372	Direct

Footnotes

F1: This Form 4 is being jointly filed by Bay Resource Partners, L.P., a Delaware limited partnership ("Bay"), Bay II Resource Partners, L.P., a Delaware limited partnership ("Bay II"), Bay Resource Partners Offshore Fund, Ltd., an exempted company organized under the laws of the Cayman Islands ("Offshore Fund"), GMT Capital Corp., a Georgia corporation ("GMT Capital"), and Thomas E. Claugus, a United States citizen ("Claugus"). The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons.

F2: GMT Capital, the general partner of Bay and Bay II, has the power to direct the affairs of Bay and Bay II, including the voting and disposition of shares. As the discretionary investment manager of the Offshore Fund and certain other accounts, GMT Capital has power to direct the voting and disposition of shares held by the Offshore Fund and such accounts. Mr. Claugus is the President of GMT Capital and in that capacity directs the operations of each of Bay and Bay II and the voting and disposition of shares held by the Offshore Fund and separate client accounts managed by GMT Capital. GMT Capital and Mr. Claugus may be deemed to beneficially own indirect pecuniary interest as the result of performance-based fees and profit allocations. Each of GMT Capital and Mr. Claugus disclaims such beneficial ownership except to the extent ultimately realized.

F3: The aggregate number of shares of common stock acquired was 13,738 shares and such shares were purchased by the Reporting Persons in the following amounts: Bay = 1,900 shares; Bay II = 2,700 shares; Offshore Fund = 7,738 shares; GMT Capital = 1,100 shares; Claugus = 300 shares.

F4: 782,859 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 186,900 shares directly owned by it; Bay II = 127,300 shares directly owned by it; Offshore Fund = 383,759 shares directly owned by it; GMT Capital = 63,100 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,800 shares directly owned by him.

F5: The aggregate number of shares of common stock acquired was 1,513 shares and such shares were purchased by the Reporting Persons in the following amounts: Bay = 200 shares; Bay II = 300 shares; Offshore Fund = 913 shares; GMT Capital = 100 shares.

F6: 784,372 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: Bay = 187,100 shares directly owned by it; Bay II = 127,600 shares directly owned by it; Offshore Fund = 384,672 shares directly owned by it; GMT Capital = 63,200 shares of common stock beneficially owned by it with respect to separate client accounts managed by it; Claugus = 21,800 shares directly owned by him.