SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 3, 2000
______________________________
ALICO, INC.
_______________________________________________________________________________
(Exact name of registrant as specified in its charter)
Florida 0-261 59-0906081
_______________________________________________________________________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Post Office Box 338, La Belle, Florida 33975
______________________________________ _______________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (863) 675-2966
________________________
<PAGE>
Item 5. Other Events.
Incorporated by reference is a press release issued by the Registrant on
November 3, 2000, attached as Exhibit 01, providing information concerning
the Registrant's announcement of its disposition of land in Lee County,
Florida.
Item 7. Financial Statements and Exhibits.
( c ) Exhibit
Exhibit 01 - Press release issued November 3, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ALICO, INC.
(Registrant)
/s/ W. BERNARD LESTER
November 3, 2000 By_______________________________________
_______________ W. Bernard Lester, President
Date (Signature)
<PAGE>
EXHIBIT INDEX
_____________
Exhibit
Number Description
_______ ___________
01 Press release issued November 3, 2000
<PAGE>
November 3, 2000
FOR IMMEDIATE RELEASE
Contact: W. Bernard Lester, President
Alico, Inc.
(863) 675-2966
ALICO ANNOUNCES LEE COUNTY PROPERTY DISPOSITION
La Belle, FL. (Nov. 3, 2000) -- Ben Hill Griffin III, Chief Executive Officer
and Chairman of the Board of Alico, Inc. (ALCO), announced today that the Board
of Directors approved the transfer of approximately 5,500 acres, the remaining
of Alico, Inc.'s Lee County property, to its wholly owned subsidiary,
Agri-Insurance Company, Ltd. There are currently sales contracts for
approximately 2,700 of the acres totaling $81 million. The contracts, while
still subject to the buyers' due diligence efforts, have aso been assigned to
the subsidiary. In connection with the transaction, Mr. Griffin stated, "We
expect this transfer to facilitate reaching the capital levels necessary to
insure our risk of catastrophic crop and other losses. Through Agri-Insurance
Company, Ltd., we are able to underwrite previously uninsurable risk and access
re-insurance markets otherwise inaccessible. Agri-Insurance Company will begin
writing coverages before the end of December 2000. In subsequent years, we
expect to gradually expand the use of Agri-insurance into other aspects of our
insurance programs."
