Thursday, October 01, 2009

FOR IMMEDIATE RELEASE

TEJON RANCH CONSERVATION AGREEMENT WINS GOVERNOR’S AWARD Historic conservation pact receives prestigious environmental honor

LOS ANGELES, Calif. (October 1, 2009) — Governor Arnold Schwarzenegger today announced that the Tejon Ranch Conservation and Land Use Agreement has won the Governor”s Environmental and Economic Leadership Award (GEELA) in recognition of the historic conservation pact signed by Tejon Ranch Company (NYSE: TRC) and America’s leading conservation and environmental organizations.

The Governor”s Award, California”s highest and most prestigious environmental honor, recognizes individuals, organizations and businesses that have demonstrated exceptional leadership for voluntary achievements in conserving California”s resources, protecting and enhancing the environment, and building public-private partnerships. Awards are given in ten categories. The landmark agreement is a winner in the Environmental and Economic Partnerships category.

Past winners of this prestigious award in that category include the Hearst Ranch Conservation Project and the Irvine Ranch Land Reserve Trust. Pardee Homes, one of Tejon Ranch’s partners in the development of the community of Centennial, won in 2005 in the category of Sustainable Practices for its “Living Smart” green building program.

The unprecedented conservation pact is the largest private conservation agreement in California history and will permanently preserve up to 240,000 acres – 90% of the historic Tejon Ranch. That’s nearly three times the size of the Hearst Ranch Conservation Project. The agreement protects and expands foraging habitat for the California condor, safeguards other threatened or endangered species such as the San Joaquin kit fox, the blunt-nosed leopard lizard and the Tehachapi slender salamander. It permanently protects an unbroken expanse of open space more than seven times the size of San Francisco, open space that’s home to native grasslands, oak woodlands, Joshua trees and conifer forests.

The agreement between Tejon Ranch Company and Audubon California, Endangered Habitats League, Natural Resources Defense Council, Planning and Conservation League, and the Sierra Club, also created the Tejon Ranch Conservancy, an independent non-profit organization that recently concluded its first year overseeing continued stewardship of the conserved lands.

The award specifically recognizes Robert A. Stine, President and CEO of Tejon Ranch Company, and Eneas Kane, President and CEO of DMB Associates, Tejon Ranch’s partner in its Tejon Mountain Village development, for their leadership in negotiating the Agreement.

“This historic agreement to protect a California treasure illustrates something that I have stressed since taking office — we can protect California’s environment at the same time we pump up our economy,” Governor Arnold Schwarzenegger said.

“The Tejon Ranch Conservation and Land Use Agreement is consistent with our vision to preserve California’s legacy and provide for California’s future, as the Agreement does both” said Robert A. Stine, Tejon Ranch Company’s President and CEO. “This agreement is good for conservation, good for our company and good for California.”

“Our company has deep history and experience in forging accords and settlements that work toward long-term solutions with the environmental and conservation communities,” said Eneas Kane, President and CEO of DMB Associates, “and we are humbled to have been a part of one of the great conservation achievements in California history.”

Tejon Ranch is currently engaged in the development of the communities of Tejon Mountain Village and Centennial. Tejon Mountain Village, a mountain resort development in the Tehachapi Mountains is one of the greenest, most ecologically sensitive communities of its type ever proposed in California. Centennial, a master planned new town in northwest Los Angeles County, likewise places a strong emphasis on sustainability and environmental sensitivity, evidenced by the fact that Centennial will be the first major development in Los Angeles County to comply with both the state’s greenhouse gas reduction goals and the county’s green building ordinance. In addition to the aforementioned Pardee Homes, Tejon Ranch Company’s partners in the development of Centennial include Lewis Investment Company and Standard Pacific Homes.

About the Governor’s Environmental and Economic Leadership Award

The Governor’s Environmental and Economic Leadership Awards program was established in 1993. The award program is administered by the California Environmental Protection Agency and the Resources Agency in collaboration with the State and Consumer Services Agency, the California Department of Food and Agriculture, and the Business, Transportation and Housing Agency.

About Tejon Ranch

Tejon Ranch Company is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Co. can be found online at www.tejonranch.com.

About DMB Associates

DMB Associates is Tejon Ranch’s partner in Tejon Mountain Village. DMB is one of the most respected real estate companies in the West, known for creating innovative communities that thoughtfully and responsibly address the environment. DMB”s business practices are predicated on creating truly great places and on forging lasting, mutually beneficial partnerships with stakeholders, municipalities, landowners and communities. In California, in addition to Tejon Mountain Village, DMB is partnering with Cargill in the proposed Saltworks development in Redwood City. Additional DMB communities in California include Martis Camp and Lahonton in the Lake Tahoe area, Santa Luz in Rancho Santa Fe, and Ladera Ranch and Rancho Mission Viejo in southern Orange County. More information about DMB Associates can be found online at www.dmbinc.com. ####

Tejon Ranch Contact: Barry Zoeller, Vice President Director of Corporate Communications (661) 663-4212 bzoeller@tejonranch.com

DMB Contact: Lauren Charpio Vice President, Communications (480) 367-7617 lcharpio@dmbinc.com

Kern County Board of Supervisors Unanimously Approve Tejon Mountain Village

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Monday, October 05, 2009

FOR IMMEDIATE RELEASE

Kern County Board of Supervisors Unanimously Approve Tejon Mountain Village

Bakersfield, Calif. (October 5, 2009) – The Kern County Board of Supervisors has unanimously voted to approve development of Tejon Mountain Village, a remarkable mountain resort community planned for the westernmost high country of Tejon Ranch. The new community is being developed by Tejon Mountain Village LLC, a joint venture of Tejon Ranch Company (NYSE: TRC) and DMB Associates.

“We are pleased the Kern County Board of Supervisors has decided to support Tejon Mountain Village and the new jobs, enhanced public services and expanded tourism economy it will bring,” said Robert A. Stine, President and CEO of Tejon Ranch Company.

Tejon Mountain Village is located approximately 40 miles south of Bakersfield and 60 miles north of Los Angeles.

“A high-quality mountain resort community located just a short drive from both Bakersfield and the large and affluent Los Angeles market will be a natural draw for people who want to live in a beautiful natural setting, or for those who will use the community”s exceptional resort facilities for a relaxing respite from the hustle and bustle of urban life,” Stine added.

The Supervisors were effusive in their praise for the community, noting its environmental sensitivity, the care and planning that went into its design, and the role Tejon Mountain Village will play as a prestigious new gateway to Kern County.

“Tejon Mountain Village reflects the highest standards and should serve as a model for the rest of the state when it comes to development,” said Supervisor Michael Rubio.

Community Details Tejon Mountain Village is planned on 26,417 acres in the Tehachapi Mountains. The plan will preserve 80 percent of the land as open space; an area roughly one-third the size of Bakersfield. The developed portion of the community will consist of:

• Resort and recreational facilities, including up to 750 hotel rooms, golf and equestrian opportunities and about 75 miles of hiking, biking and equestrian trails;

• Up to 3,450 new homes (ranging from resort condominiums to multi-acre custom lots); and

• 160,000 square feet of publicly accessible commercial space.

 

The community is expected to generate an estimated 3,100 new jobs, including 1,600 construction jobs during the expected 15- to 20-year build-out process and 1,500 permanent positions. The community will also provide funding for public services such as fire stations and equipment, Sheriff facilities, libraries and schools as well as provide improvements to local interchanges along Interstate 5.

The homes in Tejon Mountain Village will also help fund the Tejon Ranch Conservancy, an independent body established to guide the stewardship of up to 90 percent of the Ranch (240,000 acres) that will be conserved as open space.

Next Steps With today’s approval by the Board of Supervisors, Tejon Mountain Village will begin the process of obtaining a number of discretionary permits and approvals from regional, state and federal agencies, and will begin the detailed engineering work necessary for construction to begin.

About Tejon Mountain Village

As a part of the Tejon Ranch Vision of conservation, continued ranching, and limited development, Tejon Ranch and DMB Associates are carefully planning the development of Tejon Mountain Village. With approximately 80 percent of its land preserved as natural open space, Tejon Mountain Village will be a remarkable, environmentally sensitive mountain resort community. www.TejonMountainVillage.com.

About DMB Associates

DMB Associates is Tejon Ranch’s partner in Tejon Mountain Village. DMB is one of the most respected real estate companies in the West, known for creating sustainable communities that thoughtfully and responsibly address the environment. DMB”s business practices are predicated on creating truly great places and on forging lasting, mutually beneficial partnerships with stakeholders, municipalities, landowners and communities. More information about DMB Associates can be found online at www.dmbinc.com.

About Tejon Ranch

Tejon Ranch Co. is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Co. can be found online at www.tejonranch.com. # # #

Contact: Barry Zoeller, Vice President Director of Corporate Communications Tejon Ranch Company (661) 663-4212 bzoeller@tejonranch.com