Voters Approval of Santa Paula East Area 1 Measure Means New Sustainable Community and Increased City Tax Revenue

SANTA PAULA, CA--(Marketwire - June 4, 2008) - On June 3, Santa Paula, California voters approved Measure G, which allows 541 acres on the eastern edge of the City of Santa Paula to be incorporated into the city and zoned for development. Work on a master planned community for the site can now move forward. Limoneira Company (PINKSHEETS: LMNR), a 115-year-old agribusiness and community builder with headquarters in Santa Paula, will be responsible for developing the site known as Santa Paula East Area 1.

Measure G passed with 82.57% percent of the voters in favor of the measure. "The East Area 1 development has been in the planning stages for more than five years," says Harold Edwards, president and CEO of Limoneira. "We listened carefully to Santa Paula residents and created a master plan that will be a great benefit to the area and, we believe, will be a blueprint for future developments in California."

The project is anticipated to create millions of dollars in new tax revenue for Santa Paula and the Heritage Valley Corridor, located between Ventura and Santa Clarita and 20 minutes from the Pacific Ocean. The value of the completed community is expected to exceed $1 billion upon build out.

The master planned community will contain over 1,500 new homes at various price points, 150,000 sq. feet of new office and retail space, 200,000 sq. feet of new light industrial space, a new, state-of-the-art elementary school, high school and post secondary facilities, new fire and police stations, athletic fields, parks, hiking trails, a civic center and new amphitheater.

Approximately 79 acres will be designated open space and another 55 acres will be set aside as an agricultural preserve.

Design and construction will use environmentally sound practices with eco-friendly building and landscape materials, and renewable energy sources. "It will be a sustainable community were residents can live, work and play locally," notes Edwards. Limoneira recently partnered with UC Santa Barbara's Donald Bren School of Environmental Science & Management, one of the country's top environmental research institutions, to ensure the development is one of the most sustainable building projects in the state.

"By passing Measure G, Santa Paula residents understand the need for additional affordable housing in their community and a stronger business base to bring in tax revenue to the city," says Edwards. "We thank Santa Paula for putting its faith and trust in our company."

As the next step, Edward says, "We will now be following through with the Ventura Local Agency Formation Commission (LAFCO) process so that we can implement the many benefits that our community needs and wants. We are excited about this next phase for both Limoneira and for our entire region."

Limoneira Company continues to pursue strategic community building opportunities, and has investments in California and Arizona. In addition, the company has over 7,000 acres in active agricultural production and distributes its products through Sunkist and Calavo. The company is traded on the Pink Sheets under the symbol LMNR.

For more information about Limoneira Company and East Area 1, go to http://www.limoneira.com/.

Contact Information: CONTACTS: Harold Edwards CEO LIMONEIRA COMPANY Office (805) 525-5541 ext. 235 Mobile (805) 207-1897 John Chamberlain Director of Marketing LIMONEIRA COMPANY Office (805) 525-5541 ext. 256 Mobile (805) 708-0364 Diane Rumbaugh Rumbaugh Public Relations 805-493-2877