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)      February 24, 2003
                                                _____________________________



                                 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
                                                    _________________________



























Item 5.      Other Events.

              Incorporated by reference is an announcement issued by the
Registrant on February 24, 2003, attached as Exhibit 01, providing information
concerning a judgement affirming the enforceability of a settlement agreement
between Ben Hill Griffin, III, trustee and the Four Sisters Protectorate, et al.


Item 7.     Financial Statements and Exhibits.

( c ) Exhibit

Exhibit 01 - Announcement of settlement enforceability February 24, 2003.


                                    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
February 24, 2003                         By________________________________
__________________			         W. Bernard Lester, President
Date						         (Signature)





























EXHIBIT INDEX



Exhibit
Number	Description

01          Announcement issued February 24, 2003





Alico, Inc reported today that it has been informed that the judgement of the
circuit court in The Four Sisters Protectorate, et al. v. Ben Hill Griffin
III, Trustee, Case No. GC-G-0054, Section 81  which affirmed the
enforceability of the settlement  Agreement in that case has been affirmed per
curium by the Second District Court of Appeals for the State of Florida, Case
Nos. 2D01-5407 and 2D02-0499, February 14, 2003.  As described in the
Company's proxy statement dated November 8, 2002,  the settlement agreement
among other things calls for the transfer of beneficial ownership of certain
shares of Alico, Inc. held by Ben Hill Griffin Investments Inc to an entity to
be controlled by the Four Sisters Protectorate upon implementation of the
settlement.  The Company is advised that other conditions to the settlement's
implementation remain to be satisfied and continue to be worked upon by the
parties.  The Company undertakes no obligation to continue to advise of
developments in this litigation, which is a matter of public record.