UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
__Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or
Trading Symbol
Campbell Monterey Alico, Inc. (ALCO)
(Last) (First) (Middle)
3. IRS or Social Security
Number of Reporting
660 South Wilson Avenue
(Street) Person (Voluntary)
262-44-8666
Bartow, Florida 33830
(City) (State) (Zip) 4. Statement for Month/Year
January 2003
5. If Admendment, Date of Original
6. Relationship of Reporting Person(s) 7. Individual or Joint/Group Filing
to Issuer (Check all applicable) _X_ Form filed by One Reporting
Person
_X__Director ___10% Owner ___ Form filed by More than One
Reporting Person
___ Officer (give ___Other(specify
title below) below)
TABLE I
NON-DERIVATIVE SECURITES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
1.Title of 2.Trans- 3.Trans- 4.Securities 5.Amount of 6.Owner- 7.Nature of
Security action action Acquired(A) Securities ship Indirect
(Instr 3) Date Code or Disposed Beneficially Form: Beneficial
(Instr 8)of (D)(Instr Owned at Direct(D) Owner-
Month/ 3, 4 and 5) End of Month or Indirect ship
Day/ (Instr 3 & 4) (I)(Instr 4)(Instr 4)
Year Code V Amount (A) Price
or
(D)
Alico, Inc.
Common Stock,
Par Value
$1.00 1/29/03 M 1250 A $15.68/Sh 1465 D
FORM 4 (continued)
TABLE II
DERIVATIVE SECURITES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
1.Title of 2.Conversion 3.Trans- 4.Trans- 5.Number of 6.Date Exer-
Derivative or Exercise action action Derivative cisable and
Security Price of Date Code Securities Expiration
(Instr 3) Derivative (Month/ (Instr 8) Acquired (A) Date (Month/
Security Day/ or Disposed Day/Year)
Year) of (D)(Instr
3, 4 and 5)
Code V (A) (D) Date Exp-
Exer- iration
Cisable Date
Option $15.68 1/29/03 M 1250 8/31/02 2012
For Stock
7.Title and 8.Price of 9.Number of 10.Ownership form 11.Nature of
Amount of Derivative Derivative of Derivative Indirect
Underlying Security Securities Security: Direct Beneficial
Securities (Instr 5) Beneficially (D) or Indirect(I) Ownership
(Instr 3 and 4) Owned at End (Instr 4) (Instr 4)
of Month
(Instr 4)
Title Amount or
Number of shares
Common Stock 1250 0* 1465 D
Explanation of Responses:
*The reporting person received these options under the "Stock Option
Incentive Equity Plan" and did not pay any monetary value for the
Derivative securities; the price is stated in Column 2.
/s/ L. Monterey Campbell 1/30/03
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB Number.