ALICO, INC. — Director's Dealing 2008

Jul 14, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ALICO INC (ALCO)
CIK: 0000003545
Period of Report: 2008-01-02

Reporting Person: GMT CAPITAL CORP (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	179000	Direct
Common Stock	119600	Direct
Common Stock	361690	Direct
Common Stock	59600	Direct
Common Stock	20800	Direct

Footnotes

F1: This Form 3 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").

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: Owned directly by Bay.

F4: Owned directly by Bay II.

F5: Owned directly by the Offshore Fund.

F6: Owned beneficially by GMT Capital due to management of separate client accounts.

F7: Owned directly by Claugus.