Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, today announced it has entered into a non-binding letter of intent to sell 25.28 acres of its 32 acre real estate asset referred to as “East Area 2” in Ventura County, California to Pacific Coast Investments, Inc. and/or its nominee (the “Buyer”) in five staged purchases (the “Transaction”). Completion of the Transaction is subject to the execution of a purchase and sale agreement (“PSA”). In addition, the purchase of Lot 1 (medical office building) and Lot 2 (acute care hospital) will be contingent upon the Buyer executing a lease with the Ventura County Health Care Agency, subject to approval by the Ventura County Board of Supervisors, and the purchase of Lots 3, 4 and 5 will be contingent upon the Buyer having obtained leases which support financing for additional facilities.