Court rules in favor of Kern County, Tejon Ranch Company, & DMB Pacific Ventures, joint developers of Tejon Mountain Village

 TEJON RANCH, CA (April 26, 2012)   Tejon Ranch Company and its partner, DMB Pacific Ventures, announced today the 5^th District Court of Appeals in Fresno has affirmed in its entirety the ruling of Kern County Superior Court Judge Kenneth Twisselman that the County of Kern properly analyzed and evaluated the environmental effects of Tejon Mountain Village.  In its unanimous ruling, the court again rejected each and every claim by the opponents, ruling that the environmental impact report for Tejon Mountain Village was adequate.

“Following the December 2010 decision by Judge Twisselman, the 5^th District Court of Appeals has further validated both the level of analysis and adherence to the law, as well as the process followed by Kern County leading to the Board of Supervisors’ unanimous approval of this project in October 2009,” said Robert A. Stine, President and CEO of Tejon Ranch Company.

“We are obviously very pleased with the ruling and believe it’s a further affirmation of the quality and environmental sensitivity of Tejon Mountain Village, and again vindicates the outstanding work of Kern County in preparing and evaluating the environmental report,” said Eneas Kane, President and CEO of DMB Pacific Ventures, LLC.

“It took an extraordinary team of professionals to craft the vision and produce such a thorough and comprehensive plan, and the court’s resounding ruling is validation of the level of detail and science-based approach used in designing the community,” said Stine.

“The appellate court’s decision represents a significant step forward in our efforts to achieve our vision for Tejon Mountain Village, which was first approved by the County, then affirmed by the Superior Court, and now reaffirmed at the appellate level – something almost unprecedented in California,” added  Kane.

Tejon Mountain Village will play a key role in the overall conservation of Tejon Ranch, and it was an important consideration during negotiations that led to the historic Tejon Ranch Conservation and Land Use Agreement. Under the Agreement, executed in 2008 by Tejon Ranch Company, Natural Resources Defense Council, Sierra Club, Planning and Conservation League, Endangered Habitats League, and Audubon California, the Ranch agreed to conserve up to 90% of its land and establish the Tejon Ranch Conservancy. The sale of homes within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the independent Tejon Ranch Conservancy.

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About Tejon Mountain Village
Tejon Mountain Village is located on  Tejon Ranch, a 270,000-acre working ranch located about 60 miles north of Los Angeles and 30 miles south of Bakersfield. At more than 26,000 acres, Tejon Mountain Village preserves more than 80 percent of its land as natural open space, making it one of California’s most remarkable, environmentally sensitive mountain resort communities. Tejon Mountain Village is being developed by Tejon Ranch Company and DMB Pacific Ventures, LLC. www.TejonMountainVillage.com.

About DMB Pacific Ventures, LLC
DMB Pacific Ventures LLC is a company formed to manage real estate investments throughout the western United States.  More information about DMB Pacific Ventures, LLC can be found online at www.dmbpacificventures.com.

About Tejon Ranch Company
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 Company can be found online at www.tejonranch.com.

CONTACT:

David Crowder – (661) 599-9176, Tejon Mountain Village LLC

Barry Zoeller – (661) 663-4212, Tejon Ranch Company.

Dollar General leases large warehouse facility to serve as its California distribution center

TEJON RANCH, Calif. (January 10, 2012) – The partnership of Tejon Ranch Company (NYSE: TRC) and Rockefeller Group Development Corporation, together with Dollar General Corporation (NYSE: DG), today announced the discount retailer is leasing 439,000 square feet of warehouse space in the building the partnership owns at the Tejon Ranch Commerce Center. Dollar General will use the facility to support its expansion into California.

“The Tejon Ranch distribution center is strategically located to serve our supply chain needs as we continue to expand westward,” said John Flanigan, Dollar General’s executive vice president of global supply chain. “From its central location, our supply chain team can deliver goods to stores in northern and southern California in a day.”

Dollar General currently has more than 9,800 stores in 38 states. The discount retailer is adding California as its 39th state and plans to open 50 stores throughout the state in 2012. The distribution center at the Tejon Ranch Commerce Center will be the company’s 11th distribution center in its extensive, cross-country supply chain network. The new facility, which is anticipated to begin operations in April, will eventually employ approximately 250 people. Hiring begins in March.

The Tejon Ranch Commerce Center is Tejon Ranch Company’s 1,450-acre master planned commercial/industrial development located at the junction of Interstate 5 and Highway 99, at the southern end of California’s San Joaquin Valley – the gateway to Central California’s Golden Empire. The Commerce Center is already home to major distribution centers for IKEA and Famous Footwear and last month, Caterpillar Inc. (NYSE: CAT), announced it was purchasing 46 acres at the site to build a 400,000-square-foot parts distribution facility.

“We are excited to welcome Dollar General to the Tejon Ranch Commerce Center,” said Robert A. Stine, president and CEO of Tejon Ranch Company. “Following on the heels of the Caterpillar transaction, Dollar General’s decision to locate here is further validation of the Commerce Center’s premier status as one of California’s best and most strategic locations for distribution.”

“The Rockefeller Group would also like to welcome Dollar General to the Tejon Ranch Commerce Center,” said Tom McCormick, senior vice president for Rockefeller Group Development Corporation. “We see signs that consumer confidence is increasing and that will buoy the industrial market as goods begin to move. Dollar General will be strategically positioned to take advantage of that confidence.”

Tejon Ranch Company and Rockefeller are joint venture partners on up to 500 acres within the Commerce Center, including the warehouse facility being leased by Dollar General. The building already has an existing tenant who will share use of the facility with Dollar General. The acreage has also been designated as a Foreign Trade Zone.

The Tejon Ranch Company/Rockefeller partnership was represented in the transaction by Doug Sonderegger, Executive Vice President of CBRE. Dollar General Corporation was represented by Joseph J. Howell and Brett B. Spitzer, Executive Vice Presidents of NAI Global, and Chad Brock, President of NAI Central Cal. The Kern Economic Development Corporation also assisted Dollar General and provided important information during its site selection process.

New 400,000 SF California Distribution Center will serve Caterpillar dealers and customers throughout the West.

 TEJON RANCH, Calif. (November 7, 2011) – Tejon Ranch Co. (NYSE: TRC) announced today that Caterpillar Logistics Inc. (Cat Logistics), a wholly owned subsidiary of Caterpillar Inc. (NYSE: CAT), is purchasing 46 acres of land within the Tejon Ranch Commerce Center to construct a 400,000-square-foot parts distribution facility that will serve Caterpillar dealers and customers throughout California and the western United States.

 ”We’re pleased to welcome Caterpillar Inc. to the Tejon Ranch Commerce Center,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “Caterpillar is an industry leader, and as such, will be in good company, joining the ranks of other world-class companies, like IKEA and Famous Footwear, who have located major distribution facilities at Tejon.”

“With its excellent accessibility to major highways and airports, this location will ensure the rapid delivery of Cat parts to dealers and customers,” explained Steve Larson, Vice President of Caterpillar Inc. and Chairman and President of Cat Logistics.

Located at the junction of Interstate 5 and Highway 99 in Central California, the Tejon Ranch Commerce Center is one of California’s leading logistics centers. Covering 1,450 acres, this signature commercial/industrial development is already home to three million square feet of existing warehouse facilities and approximately 1,000 employees.

 Caterpillar, the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, selected the Tejon Ranch Commerce Center after a thorough review of potential sites throughout California and the western United States. Caterpillar ultimately determined Kern County – California’s Golden Empire – was the best location to meet its parts distribution needs, and the Tejon Ranch Commerce Center was best-suited to serve as its specific base of operations.

“Given its central location within California, Kern County’s Golden Empire is becoming a vital part of the goods movement industry,” said Joseph E. Drew, Tejon Ranch’s Senior Vice President of Real Estate. “With its proven logistical advantages, we believe the Tejon Ranch Commerce Center is the area’s best location, and that it will continue to play a leading role in the growth of the logistics industry within the Golden Empire.”

 ”By design, and by virtue of its strategic location, the Tejon Ranch Commerce Center provides clear advantages when it comes to the most important factors companies use in determining where to locate a distribution facility,” said Hugh F. McMahon IV, Vice President of Commercial and Industrial Real Estate at Tejon Ranch Co. “Tejon offers significant cost savings over competing locations. Our centralized location results in superior transportation efficiencies for distribution throughout California and the western United States. The labor pool is deep and highly qualified and employees have been proven to be productive and loyal. Further, the Commerce Center offers fully entitled land sites ready for immediate development, with ample room for future expansion.”

 The new Caterpillar facility is scheduled to be operational in late 2012 and is expected to employ up to 150 people.

 The Kern Economic Development Corporation played an important role in the site selection process, providing Caterpillar and its consultants with information regarding the benefits of locating in the Golden Empire, and connecting them with key County department heads who explained the ease of the permitting process in Kern County.

 CBRE represented both parties in the transaction with Traci Buckingham representing Caterpillar Inc. and Doug Sonderegger representing Tejon Ranch Co.

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Grapevine_Fall_2011

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CALIFORNIA AGENCY APPROVES FUNDING OF CONSERVATION EASEMENTS OVER PARTS OF TEJON RANCH

TEJON RANCH, CALIF. (November 18, 2010). Tejon Ranch Co. (NYSE: TRC) announced today the California Wildlife Conservation Board (WCB), has approved the purchase, for $15.8 million, of five conservation easements covering approximately 62,000 acres of land located on various portions of the 270,000 acre Tejon Ranch. This furthers the implementation of the historic Tejon Ranch Conservation and Land Use Agreement signed in 2008. The 62,000 acres is a component of the 240,000 acres designated for protection under the 2008 agreement.

The $15.8 million purchase price represents the conservation easement value for the acreage as determined by an independent appraisal directed by the WCB. The WCB, at its November 18, 2010 Board Meeting, accepted the appraisal and authorized the use of existing bond funds approved by California voters in 2006 under Proposition 84 to acquire the conservation easements. Tejon Ranch Co. will retain fee ownership of the 62,000 acres and continue to operate current revenue generating activities including farming, cattle grazing, filming, oil and gas and other mineral exploration and production on portions of the acreage. The conservation easements will preclude the Company from pursuing any long term development on the 62,000 acres. This transaction allows the Company to realize an immediate value, as opposed to what possibly could have been realized through development of those areas sometime in the distant future.

“The Wildlife Conservation Board’s action gives the Company an opportunity to monetize, in the near term, potential long-term value associated with these remote areas of the Ranch that have little, if any, near-term development potential,” said Michael H. Winer, Portfolio Manager for Third Avenue Management LLC, the Company’s largest shareholder, and member of the Tejon Ranch Co. Board of Directors. “Further, it will preserve in perpetuity the environmentally important values of these lands through the imposition of conservation easements, administered by the independent Tejon Ranch Conservancy.”

The 62,000 acres represents the total acreage of five separate acquisition areas negotiated as part of the 2008 Conservation and Land Use Agreement. In that Agreement, the Resource Groups: Audubon California, Endangered Habitats League, Natural Resources Defense Council, Planning and Conservation League, and the Sierra Club, were given an option to acquire conservation easements over those areas. This action today by the WCB fulfills that option. The remaining balance of the property protected by conservation easements as defined within the landmark Agreement, approximately 178,000 acres, will be dedicated by Tejon Ranch Co. to the Conservancy over the next several decades as the Company achieves entitlement and ultimately develops the communities of Tejon Mountain Village, Centennial and the future 12,400 acre planning area at the base of the Grapevine.

Robert A. Stine, President and CEO of Tejon Ranch Company, stated, “today’s action by the WCB is the culmination of a long process involving many entities who came to the table with a vision and desire to create a new way to resolve the competing interests of land development and environmental preservation. In that regard, I am grateful for the role our partner in Tejon Mountain Village, DMB Associates, and its CEO, Eneas Kane, played in assisting Tejon Ranch in achieving the landmark agreement, which today’s action by the WCB fully embraces. This action is a major positive step forward for our company and its shareholders. It allows us to continue current revenue generating operations; to realize current revenue from the sale of easements on longer term potential land development opportunities; and proceed with Tejon Mountain Village, Centennial and the 12,400 acre development opportunities at the base of the Grapevine. All of these actions will result in greater shareholder value. Further, this is a major milestone in preserving in perpetuity environmentally important property for future generations of Californians to enjoy.” Additional steps are required before the sale of the easements will close, including the filing of various public notices, the completion of title review and the execution of the Grant Agreement between the WCB and the Tejon Ranch Conservancy. ####

BAKERSFIELD, Calif. (November 5, 2010) Tejon Ranch Co. (NYSE:TRC – News) announced today that Kern County Superior Court Judge Kenneth C. Twisselman has ruled in favor of Kern County, Tejon Ranch Company, and its development partner DMB Associates, Inc. when he found that the County had properly analyzed and evaluated the environmental effects of Tejon Mountain Village. The Kern County Board of Supervisors unanimously approved the mountain resort community in October 2009. In his ruling, Judge Twisselman rejected claims made by the Arizona-based Center for Biological Diversity and a small group of local environmental groups that the environmental impact report for Tejon Mountain Village was inadequate.

“We are elated that the judge struck down this baseless challenge,” said Tejon Mountain Village spokesman David Crowder. “This ruling is a testament to the quality of the plan and the many years of planning, community input, environmental and public review that it was subject to.”

“Tejon Mountain Village is going to be quite an asset for Kern County,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “It sets a new standard for environmental sensitivity, sustainability, good planning, and soon, good living. We’re pleased the judge’s ruling gives us the green light to move forward with our plans.”

“We are very proud of the hard work and planning that has gone into Tejon Mountain Village which is destined to become a remarkable mountain resort community and an essential part of the conservation of the vast majority of Tejon Ranch,” said Eneas Kane, President and CEO of DMB Associates, Inc. “The decision today is yet another step in achieving our vision for Tejon Mountain Village and proof that the development community and environmental community can work together successfully,” he said referring to the historic Tejon Ranch Conservation and Land Use Agreement.

Tejon Mountain Village is part of the historic Tejon Ranch Conservation and Land Use Agreement, executed by Tejon Ranch Company, Natural Resources Defense Council, the Sierra Club, the Planning and Conservation League, the Endangered Habitats League and Audubon California, in which the Ranch agreed to conserve up to 90% of its land and establish the Tejon Ranch Conservancy. The sales of most types of property within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the independent Tejon Ranch Conservancy.

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, Inc.

DMB Associates, Inc. is Tejon Ranch Co.’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, Inc. can be found online at www.dmbinc.com.

About Tejon Ranch Co.

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.

TEJON RANCH, Calif.–(BUSINESS WIRE)–Tejon Ranch Co. (NYSE:TRC – News) announced today that it raised $60 million, the maximum gross proceeds possible, through its just concluded rights offering. The rights offering concluded on June 14, 2010 and was extremely well received and oversubscribed to beyond the $60 million. Tejon previously offered transferable rights to purchase 2,173,946 shares of its common stock at a purchase price of $23.00 per share to stockholders of record as of May 21, 2010. In addition, Tejon had the option to issue an additional 434,789 shares to honor over-subscription requests. The $60 million of capital raised included the release of all 434,789 over-allotment shares and, as a result of the offering, the Company has issued 2,608,735 new shares of common stock.

“The Company and the Board of Directors are appreciative of the continued support of our current and new shareholders,” said Robert A. Stine, President and CEO. “Investing the maximum amount possible is evidence of their confidence in Tejon Ranch Co. These new capital proceeds will help us maintain our strong balance sheet as we move forward with the completion of our entitlement and land development activities.”

The net proceeds of the offering will be used to provide additional working capital for general corporate purposes, including to fund entitlement and development activities and to continue our investment into new water assets and water facilities.

About Tejon Ranch Co.

Tejon Ranch Co. 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 http://www.tejonranch.com.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include, without limitation, our statements contained above regarding the proposed rights offering, and other statements that are not historical facts. These statements involve risks and uncertainties that could cause actual results and events to differ materially, including the possibility that the rights offering may be cancelled before it closes. For a discussion of further risks and uncertainties related to Tejon’s business, please refer to our public company reports and the Risk Factors enumerated therein, including our Annual Report on Form 10-K for the year ended December 31, 2009 and subsequent reports, filed with the SEC. Tejon undertakes no duty to update any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statements are based.

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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

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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

FOR IMMEDIATE RELEASE

Kern County Planning Commission Votes to Recommend Approval for Tejon Mountain Village

Bakersfield, Calif. (September 11, 2009) – The Kern County Planning Commission will recommend to the Board of Supervisors that Tejon Mountain Village, a proposed mountain resort community on Tejon Ranch, be approved when it comes before the Board in the coming weeks. The recommendation comes as a result of a 3-2 vote by the Commission at last night’s public meeting. The new community is being proposed by Tejon Mountain Village LLC, a partnership between Tejon Ranch Company (NYSE: TRC) and DMB Associates.

“Tejon Mountain Village will bring new jobs, enhanced public services and expansion of a tourism economy, while creating a beautiful new gateway to Kern County,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “We believe the Planning Commission recognized these benefits with its vote last night and we appreciate their thoughtful deliberation. Our focus now turns to presenting our plans to the Kern County Board of Supervisors in the coming weeks.”

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

“We believe that a high-quality mountain resort community located in close proximity to such a large population base will be a natural draw for those who are looking for a relaxing getaway in a beautiful natural setting,” Stine added.

A large number of people at the hearing spoke in support of the proposed mountain resort community. The public hearing was held at the Kern County Administrative Center in Bakersfield.

Community Details

Tejon Mountain Village is planned on 26,417 acres 40 miles south of Bakersfield in the Tehachapi Mountains. The plan proposes to preserve 80 percent of the land as open space; an area roughly one-third the size of Bakersfield. The developed portion of the community is proposed with: • Up to 3,450 new homes (ranging from resort condominiums to multi-acre custom lots) • 160,000 square feet of publicly accessible commercial space and new tourist and resort facilities • Recreational amenities, including golf and equestrian opportunities and about 75 miles of hiking, biking and equestrian trails

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 with 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.

Continued Public Process

Thursday’s Planning Commission hearing follows the May 27th release of the County’s Draft Environmental Impact Report for Tejon Mountain Village for public review. The Kern County Board of Supervisors is expected to consider the proposal in the coming weeks following the Planning Commission’s recommendation.

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.

FOR IMMEDIATE RELEASE

Tejon Mountain Village to be Considered by the Kern County Planning Commission on September 10th

Lebec, Calif. (September 2009) – Plans and environmental studies for Tejon Mountain Village, a proposed mountain resort community on Tejon Ranch, will be considered by the Kern County Planning Commission on Thursday, September 10th at 7 p.m. The public hearing is the most significant milestone for the proposed community since its initial planning and scientific studies began more than a decade ago.

“We’ve spent years planning Tejon Mountain Village to be a remarkable mountain resort community – a place that compliments the existing Mountain Communities and offers people a chance to experience one of California’s most spectacular landscapes,” said Roberta Marshall, General Manager and Vice President of Tejon Mountain Village. “This is an exciting and important next step in the process and we look forward to presenting our plans to the Planning Commissioners.”

The public meeting will be held in the chambers of the Board of Supervisors located at:

Kern County Administrative Center 1115 Truxtun Avenue, Bakersfield, CA

Community Details

Tejon Mountain Village is planned on 26,417 acres 40 miles south of Bakersfield in the Tehachapi Mountains. The plan proposes to preserve 80 percent of the land as open space; an area roughly one-third the size of Bakersfield. The developed portion of the community is proposed with: • Up to 3,450 new homes (ranging from resort condominiums to multi-acre custom lots) • 160,000 square feet of publicly accessible commercial space and new tourist and resort facilities • Recreational amenities, including golf and equestrian opportunities and about 75 miles of hiking, biking and equestrian trails

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 with Interstate 5.

Continued Public Process

Thursday’s Planning Commission hearing follows the May 27th release of the County’s Draft Environmental Impact Report for Tejon Mountain Village for public review. The Kern County Board of Supervisors is expected to consider the proposal following the Planning Commission’s recommendation.

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. # # #

FOR IMMEDIATE RELEASE

TEJON RANCH COMPANY TO ASK COURT TO RELEASE PROTECTIVE ORDER Order protected confidentiality of settlement negotiations over litigation related to the California condor

TEJON RANCH, California (August 3, 2009) Tejon Ranch Company is asking the U.S. Fish and Wildlife Service (FWS) and the Department of Justice to support its efforts to have a U.S. District Court vacate a Protective Order issued to maintain the confidential nature of settlement negotiations between the Tejon Ranch and the FWS over a federal lawsuit filed by the Ranch in 1997.

“The pending settlement of our lawsuit has produced an outstanding result – a proposed Multi-Species Habitat Conservation Plan that protects the California condor and 26 other animal and plant species,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “As the MSHCP process is nearing its completion, we believe the Protective Order is no longer necessary, and having received a request from three of the environmental resource organizations that are part of the Tejon Ranch Conservation and Land Use Agreement, we have instructed our attorneys to seek the support of the FWS and the Justice Department in asking the court to remove the Order.”

The Tejon Ranch Conservation and Land Use Agreement was ratified last year by Tejon Ranch Company, Audubon California, Endangered Habitats League, Natural Resources Defense Council, Planning and Conservation League, and the Sierra Club, and will result in the permanent conservation of up to 90% of the 270,000-acre Ranch. Three of those organizations, Natural Resources Defense Council, Sierra Club and Audubon California, recently contacted Tejon Ranch to express concern that the Protective Order could create the appearance of nondisclosure, something contrary to the very comprehensive science-based negotiations that led to the historic agreement.

“The MSHCP is based on the best science available to protect the condor and other species, and its evaluation is a very open, transparent and public process – as it should be,” said Stine. “If the Protective Order gives the appearance otherwise, it should be lifted and that’s exactly what we’re asking of the court.”

Background regarding litigation

In 1997, Tejon Ranch filed suit against the FWS, with the Ranch seeking a “10(j) Rule” for California condors expected to be released in Southern California. Such a rule has been successfully applied by FWS in Arizona, where the California condor population has now grown exponentially. A “10(j) Rule” includes both restrictions designed to protect the California condor as well as protections for landowners who comply with such restrictions. At that time, a “10(j) Rule” was considered by some to be a more efficient means of effectively regulating captive-bred and captive-reared species that are protected under the federal Endangered Species Act (ESA).

Before and after filing the lawsuit, Tejon Ranch also worked with FWS in an attempt to reach a mutually agreeable solution. With the assistance of the court, in 1999, the parties reached a conditional settlement agreement under which Tejon Ranch agreed to work with FWS, with court oversight, to complete a Habitat Conservation Plan (HCP) and Incidental Take Permit in lieu of a “10(j) Rule.”

As a result of the settlement, for the past ten years Tejon Ranch has been working with FWS toward completion of an HCP. As is common in litigation, settlement discussions between the parties – in this case Tejon Ranch and FWS – were confidential. A Protective Order, mutually agreed to by Tejon Ranch and the FWS, that established the scope of this confidentiality arrangement for settlement discussions, was issued by the court in 2002.

The HCP, which initially just covered the California condor, later evolved into a Multiple-Species Conservation Plan (MSHCP) that includes 27 species, most of which are not listed or protected by the federal Endangered Species Act. The Draft MSHCP and Draft Environmental Impact Report (DEIS) were released on January 23, 2009, and were subject to a 120-day public comment period that ended in July. The MSHCP/DEIS review process will conclude in the second quarter of 2010, as was recently confirmed in the regular quarterly report filed with the court.

CONTACT: Barry Zoeller VP Corporate Communications Tejon Ranch Company (661) 663-4212 bzoeller@tejonranch.com

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FOR IMMEDIATE RELEASE

CONTACTS: TMV LLC Laer Pearce, Laer Pearce & Associates (PR) (949) 599-1212

Tejon Ranch Company Barry Zoeller, V.P., Director of Corporate Communications (661) 663-4212

DMB Associates Lauren Charpio, Director, Corporate Communications (480) 367-7617

Tejon Mountain Village Enters New Phase of Public Process; Will Bring Environmental, Economic, Civic Benefits to Kern County

• Draft Environmental Impact Report issued by Kern County • Conservation and sustainability central to TMV plan • Project expected to create jobs and stimulate local economy

Lebec, Calif. (May 27th, 2009) – The proposed Tejon Mountain Village (TMV) resort community reached an important milestone Wednesday with Kern County’s release of a Draft Environmental Impact Report (DEIR). The DEIR was prepared by the County to study the environmental impacts of the proposed TMV community in compliance with the California Environmental Quality Act. TMV is located 40 miles south of Bakersfield, east of the I-5 and the community of Lebec.

The proposed plan would preserve 80% of TMV’s 26,417 acres – a total of 21,335 acres of permanently protected open space – while creating a sensitively planned mountain resort community on the remaining 20%. The proposal, first introduced to the community four years ago after years of initial planning, is part of the Tejon Ranch Company’s long-term vision of conservation, continued ranching and farming, and limited development.

“Today marks a significant milestone. We’ve studied these lands thoroughly for nearly a decade and have worked closely with the County, stakeholders and our neighbors to refine and improve the plan,” said Roberta Marshall, vice president and general manager of TMV. “Now the public has an opportunity to review our plan and the County’s environmental report and see for themselves the great level of care that has been taken to ensure that TMV is sensitively planned to be a good neighbor within the Mountain Communities and make a positive contribution to Kern County’s economy.”

Community Vision TMV will provide a unique experience set within Tejon Ranch, one of California’s historic ranchos. A collection of 3,450 homes, ranging from clustered resort residential homes to large, low density home sites, will offer future residents an exceptional mountain ranch lifestyle. Resorts as well as community amenities, including two golf courses, and approximately 75 miles of trails and equestrian facilities, will make TMV a remarkable place to live and visit. A commercial center in the community’s Village Mixed Use area along Interstate 5 will also provide new shopping, dining and business opportunities for local residents.

Economic & Civic Benefits It’s expected that the community will create approximately 1,500 permanent jobs, 1,600 construction jobs and contribute millions of dollars in annual tax revenue to Kern County. Additionally, TMV will expand and enhance local public services, including:

• New and expanded Fire Department facilities and equipment including three station sites; • Funding for the expansion or construction of new Sheriff station facilities in the Mountain Communities; • Funding for a new Deputy Sheriff for the Lebec area and onsite office space at the onset of construction; • Funding for library books and materials; and • Funding for school classrooms and renovations.

TMV’s planned world-class resort, golf courses and other recreational opportunities will also offer other benefits to the local economy and to Kern County. “We believe that TMV will be a catalyst that will bring more tourism and commerce to the Mountain Communities,” said Marshall. “And, TMV will create a gateway to Kern County, helping to further establish Kern County as an exciting place to visit with an extraordinary quality of life.”

Environmentally & Ecologically Sound The TMV plan was designed to avoid and protect important natural resources as its primary means of achieving its conservation goals. As such, the plan preserves 80%, or 21,335 acres, as permanently protected open space. The TMV plan also relies on a series of science-based conservation and sustainability strategies to ensure the community is designed in the most environmentally responsible manner possible.

• Resource Management Plan – Ensures that biological, hydrological, cultural and other resources are managed in the most environmentally sensitive manner possible; provides residents and guests educational opportunities that encourage the ongoing stewardship of the land; • Sustainability Plan – Sets a maximum water use limit on homes and businesses; defines an energy-efficient building program requiring TMV’s homes and businesses to exceed current Title 24 (2005) standards by at least 25%; and calls for the establishment of a community fund to benefit local non-profits and charities; • Fire Protection Plan – Requires fire sprinklers in all structures; prescribes customized fuel modification zones for each area of the community along with measures to ensure compliance; and prohibits the use of highly flammable plants; • Design Guidelines – Includes measures to enhance the aesthetics of the community, minimize grading, and limit outdoor lighting to protect dark skies.

In addition, TMV already entered into and has begun implementing a Voluntary Emissions Reduction Agreement (VERA) with the San Joaquin Valley Air Pollution Control District. This voluntary agreement requires that TMV become emissions-neutral by fully offsetting criteria pollutants identified by the air district (NOX, ROG and PM10).

TMV also protects local groundwater sources by introducing three new sources of water to serve the community. Drinking water supplies will be provided by the California Aqueduct (State Water Project) and water banks in Kern County. When available, recycled water from a proposed on-site treatment facility will be used to irrigate TMV’s golf courses. Local groundwater is not proposed as a source for TMV.

Large-scale Conservation TMV’s 21,335 acres of open space are included in an agreement between Tejon Ranch Company and the nation’s leading environmental organizations to preserve up to 240,000 acres of Tejon Ranch. TMV residents will provide funding to the Tejon Ranch Conservancy from the sale of each home that will be used to further conservation efforts and provide controlled public access to this vast open space. TMV is also part of and is consistent with Tejon Ranch Company’s proposed 142,000 acre Tehachapi Uplands Multi-Species Habitat Conservation Plan which, upon approval, would provide protections for 27 species, including the California condor.

Public Review Process The County’s DEIR studies a comprehensive list of environmental issues. The documents are available for a public comment period and can be reviewed at the County’s website at: www.co.kern.ca.us/planning/.

It is expected that TMV will be considered by the Kern County Planning Commission for recommendation to the Board of Supervisors for a final decision later this year.

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.

About DMB Associates DMB Associates, based in Scottsdale, Arizona, is a nationally acclaimed real estate company 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 creating lasting, mutually beneficial partnerships with stakeholders, municipalities, landowners and communities.

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 http://www.tejonranch.com. # # #

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For over a half century, environmentalists, state officials and the courts wrangled with the longtime owner of the 270,000 acres in Kern County and northern Los Angeles County comprising Tejon Ranch. Conservationists say the land, a throwback to the era of Mexican ranchos, is home to the California condor and at least two dozen other endangered or threatened species.

However, Tejon Ranch Co. (NYSE: TRC), the publicly traded real estate development and agribusiness company that owns the land, in May reached a landmark deal with a coalition of groups to preserve 90% of the ranch land 60 miles north of Los Angeles. In exchange, the Sierra Club, the Natural Resources Defense Council, Audubon California and other groups agreed not to oppose existing industrial projects and proposed development along Interstate 5, including the 1,400-acre Tejon Industrial Complex, the proposed Tejon Mountain Village resort and Centennial, a planned residential community of 23,000 homes.

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Construction Underway for 350,000-Square-Foot Modern Distribution Facility at 23.75-Acre Site within the Recently Approved Tejon Ranch/Rockefeller Group Foreign Trade Zone

TEJON RANCH, Calif. (July 8, 2008) — Tejon Ranch Company (Tejon Ranch) announced today that construction is moving forward on a build-to-suit warehouse facility at Tejon Industrial Complex (TIC) on behalf of Famous Footwear, a retail division of Brown Shoe Company.

The fully entitled, 23.75-acre parcel for the new warehouse at TIC was recently acquired by Clayco Inc., a corporate real estate design-build and construction firm, on behalf of Famous Footwear for construction of an initial 350,000-square-foot distribution facility, with ample land remaining for a future expansion. This parcel is located within the recently approved Foreign Trade Zone (FTZ) at TIC, set up by the joint venture between Tejon Ranch and The Rockefeller Group Development Corporation (Rockefeller Group).

“Tejon Ranch is committed to delivering a strategic and sustainable operating location for California’s diverse business community at Tejon Industrial Complex,” said Robert A. Stine, President and CEO of Tejon Ranch. “We are extremely pleased that our master-planned site fit the strategic needs of Famous Footwear and its West Coast warehouse operations.”

Clayco selected the TIC location to fulfill Famous Footwear’s warehouse requirement after a thorough review of potential sites in California, Arizona, Nevada and Utah. Tejon Ranch received critical support during this selection process from Kern Economic Development Corporation, California Business Investment Services, and Kern County. These organizations assisted Tejon Ranch with meeting the critical site review timelines required by Famous Footwear.

“We are pleased that California and Kern County specifically can still offer one of the most accessible, business friendly site locations in the Western States,” said Kern County Supervisor Ray Watson. “The initial 120 full time positions Famous Footwear is expected to bring to Kern County when this modern warehouse facility opens is a boon for the Bakersfield region, offering a critical boost to the local economy with these new, skilled-wage employment opportunities.”

Supervisor Watson also pointed to the strategic importance of Kern County and the Central Valley to California’s growing logistics sector, a key to sustained regional employment growth. This sentiment was echoed by Barry Hibbard, Vice President of Industrial and Commercial Development with Tejon Ranch, who oversees the development and marketing of TIC.

“The Central Valley and TIC are well positioned to serve the needs of the modern logistics operation, which in turn continues to allow the region to capture the employment boost this growing industry sector provides,” said Hibbard. “The fact that TIC was able to meet the strategic demands of Famous Footwear’s logistics model was one of the factors in the company’s site selection decision, with the key motivator being increased value within its supply chain based on distribution and operational efficiencies.”

Hibbard was quick to point the growing importance of logistics, labor and location (the 3L’s of industrial real estate) to today’s large retailers and product driven chains, and how the Central Valley and TIC meets each of these critical elements.

“The master plan for TIC addresses almost every critical issue of the industrial space users’ location decision,” said Hibbard. “TIC provides inbound and outbound efficiencies for goods movement, central to the major consumer markets of California and accessible to all the Western States. The labor base of Kern County and the Bakersfield Region is deep and highly qualified. TIC also features fully entitled land sites able to support modern warehouse facilities, with ample room to expand operations over time.”

Senior Vice Presidents Tom Taylor and John DeGrinis, SIOR, of Colliers International are the brokerage representatives for Tejon Industrial Complex.

Tejon Industrial Complex is a 1,450-acre master planned commercial and industrial development that anchors California’s central trade corridor. Strategically located for efficient logistics at the junction of Interstate 5 and Highway 99 just south of Bakersfield in Kern County, this signature development is already home to 3 million square feet of existing warehouse facilities and approximately 1,000 employees, including IKEA”s Western North American Distribution Center, Oneida Ltd’s West Coast Distribution Center and more than 60-acres of retail offerings, including: a Petro Travel Plaza, Chevron, Best Western Hotel, In-N-Out Burger, a free-standing Starbucks, Panda Express, McDonald’s, Wendy’s and Iron Skillet Restaurant.

Currently, a joint venture between Tejon Ranch Company and Rockefeller Group is developing speculative warehouse buildings and marketing land sites for build-to-suit development within the recently secured 177 acres of Foreign Trade Zone at TIC. The strategic partnership has agreed to develop up to 500 acres to be dedicated to Foreign Trade Zone (FTZ) uses. The FTZ will allow manufacturers and distributors to secure the many benefits associated with the streamlined movement, storage and use of imported goods and raw materials. The partnership completed its first 606,000-square-foot warehouse facility earlier this year, and is currently marketing the space for long-term occupancy.

The TIC site is located between the Ports of Los Angeles / Long Beach and Oakland, putting warehouse operators approximately 60 minutes north of Los Angeles and four hours south of Oakland, providing efficient access to the state’s two major port complexes for diversification and contingency. The site allows for efficient outbound, roundtrip delivery service to 96 percent of California’s population and parts of Nevada and Arizona within the current Federal driver hours of service limitations.

About Tejon Ranch Company (NYSE: TRC) Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com. For more information on Tejon Industrial Complex, please go to www.tejonranch.com/tic.

About Rockefeller Group Development Corporation (RGDC) RGDC is a national owner, developer, and manager of prestigious commercial real estate properties. Its development capabilities include corporate headquarters, landmark properties, multi-use urban complexes, multinational distribution facilities, suburban business parks, and foreign trade zones. RGDC, with locations in Mt. Olive, NJ, Miami, FL, and Irvine, CA, is an operating company of The Rockefeller Group, developer of the famed Rockefeller Center in New York City. For more information, please logon to www.rockefellergroup.com.

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TEJON RANCH CO. & MAJOR ENVIRONMENTAL GROUPS REACH DEAL Agreement balances conservation and planned development on the 270,000- acre Tejon Ranch

FOR IMMEDIATE RELEASE

TEJON RANCH, CALIF. (May 8, 2008) Tejon Ranch Co. (NYSE: TRC) announced today that it has reached agreement with the country’s largest and most respected environmental resource organizations on a conservation and land use plan for the 270,000-acre Tejon Ranch. The agreement between Tejon Ranch Co., The Sierra Club, Natural Resources Defense Council, Audubon California, Planning and Conservation League and the Endangered Habitats League, would result in the permanent conservation of a significant portion of the Ranch’s landholdings while guaranteeing that the signatory environmental organizations would not oppose the Company’s development plans for approximately 30,000 acres located on the western edge of the Ranch: the planned communities of Centennial and Tejon Mountain Village, and a development project at the base of the Grapevine in the area adjacent to Tejon Industrial Complex.

“Without a doubt, this agreement is good for the Company and its shareholders,” said Michael H. Winer, Portfolio Manager for Third Avenue Management LLC, the company’s largest shareholder, and member of the Tejon Ranch Co. Board of Directors. “It’s the key to unlocking the value of Tejon Ranch. By removing the potential obstacles that have plagued similar development efforts in California, we’ll be able to move ahead with the entitlement processes on our current development projects in a much more timely fashion.”

The agreement calls for Tejon Ranch Co. to commit to phased conservation over the next several decades. Through a combination of dedicated conservation easements, either initially dedicated or tied to project approvals, and designated project open space areas, Tejon Ranch Co. will permanently protect approximately 178,000 acres. The agreement also lays the groundwork for the purchase, at a price determined by a state appraisal process, of an additional 62,000 acres of Ranch land, resulting in a total of 240,000 acres of conserved land. Under the agreement, the Ranch will also be able to continue with its historic revenue producing activities on those lands.

The agreement is an outgrowth of the vision for its land that Tejon Ranch Co. has been articulating for years, a vision that included extensive conservation.

Over the years, Tejon Ranch Co. had routinely engaged in conversations with environmental groups and government agencies that could have an interest in or influence over the planned future activities on its land. Those conversations evolved into two years of formal negotiations with the signatory environmental organizations.

“Our vision has been to preserve California’s legacy and provide for California’s future, and this agreement does exactly that,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “The agreement we’ve reached is good for conservation, good for California and good for the company and its shareholders.”

The agreement is strongly supported by key state government officials, including California Governor Arnold Schwarzenegger, the Secretaries of the California Department of Resources and the California Environmental Protection Agency, the Directors of the California Departments of Fish and Game and Parks and Recreation, along with the Director of the Wildlife Conservation Board and the Chair of the State Water Resources Board.

“The success of environmental organizations and Tejon Ranch Co. in reaching 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.

Tejon Ranch Co. 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 http://www.tejonranch.com. The statements contained herein, which are not historical facts, are forward-looking statements based on economic forecasts, strategic plans and other factors, which by their nature involve risk and uncertainties. In particular, among the factors that could cause actual results to differ materially are the following: business conditions and the general economy, future commodity prices and yields, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate and agriculture businesses. For further information on factors that could affect the Company, the reader should refer to the Company’s filings with the Securities and Exchange Commission.

Contact: Barry Zoeller, VP of Corporate Communications bzoeller@tejonranch.com

Allen Lyda, VP & CFO alyda@tejonranch.com (661) 248-3000

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TEJON RANCH, CA (January 23, 2007) Tejon Ranch Company (NYSE:TRC) recently signed a contact to grow additional acres of wine grapes for E & J Gallo Winery, one of the country’s largest wineries. The contract, which extends for at least ten years, calls for the Ranch to produce 300 acres of rubired wine grapes for Gallo. In addition to the approximately 300 acres already being grown for Gallo, the new agreement brings the total acreage under contract with the winery to over 600. Tejon Ranch has been growing grapes for Gallo, off and on, for more than 30 years.

With nearly 1,800 acres devoted to wine grapes, Tejon Ranch is one of the larger wine grape growers in the San Joaquin Valley. It grows wine grapes exclusively under contract for various wineries and its location and elevation allow it to produce a number of different varietals. The Ranch’s location at the southern end of the San Joaquin Valley also means its wine grapes are among the first in the state to be harvested, which allows its contract wineries to get an earlier start on the crush and actual production of wine. Tejon Ranch Co. 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.

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TEJON RANCH COMPANY ANNUAL REPORT HONORED Publication captures several awards in prestigious competition

TEJON RANCH, CA (October 1, 2007) Tejon Ranch Company (NYSE:TRC) was honored with several awards for its 2006 Annual Report in the 15th American Business Communicators Annual Report Competition, including a first place award for Best Cover Design. The Annual Report received second place in two categories: Letter to Shareholders and Photography/Illustration. The report won a third place award for Narrative Presentation. This is the second year in a row Tejon Ranch Company’s Annual Report was honored by the American Business Communicators organization. Companies from all over the country enter their annual reports in the competition, including such well-known corporations as Allstate Insurance, Boeing, General Electric and Wachovia. Tejon Ranch Company’s Corporate Communications Department worked with Douglas Oliver Design of Santa Monica to produce the report. The 2006 Annual Report featured the theme of partnerships, and focused on Tejon Ranch Company’s conservation, community and community building partnerships. “We are very pleased to be recognized again this year,” said Barry Zoeller, Vice President of Corporate Communications. “Tejon Ranch emphasizes quality in everything we do, and it’s gratifying to see our Annual Report recognized for excellence.” To view Tejon Ranch’s 2006 Annual Report on line, go to the Investor Relations section of the corporate website www.tejonranch.com. To request an Annual Report, please call (661) 663-4213. A complete list of the winners in the American Business Communicators Annual Report Competition is available at www.ambizcom.com.

CONTACT: Barry Zoeller, VP of Corporate Communications Tejon Ranch Company (661) 663-4212 bzoeller@tejonranch.com

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Partners Start on 606,000 Square Foot Warehouse Facility Designed to Serve the Needs of West Coast-Based Logistics Operators

TEJON RANCH, Calif. (April 10, 2007) – The partnership of Tejon Ranch Company (NYSE: TRC) and Rockefeller Group Development Corporation (Rockefeller Group) today announced it is commencing with the development of a 606,000 square foot warehouse building at Tejon Industrial Complex (TIC), the 1,450-acre master planned commercial development that anchors California’s central trade corridor.

“Rockefeller Group is an organization with a worldwide reputation for quality commercial development, with a demonstrated depth of expertise in the Foreign Trade Zone arena,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “We are pleased to align those strengths with Tejon Ranch’s focus on delivering high-quality and well planned real estate developments that are strategically positioned to provide for California’s future economic prosperity.”

Tejon Ranch and Rockefeller Group’s joint venture partnership includes securing a Foreign Trade Zone (FTZ) designation at TIC as an expansion of Port of LA FTZ #202, with a goal of developing the property within the FTZ for warehouse and distribution uses.

“Tejon Industrial Complex is in a strategic position to fulfill the location needs of warehouse and industrial space users best served by efficient outbound logistics on the West Coast,” said Tom McCormick, SIOR, Rockefeller Group”s Senior Vice President of Development. “Our studies of imported goods and commodities moving into the U.S. markets through the ports of Los Angeles and Long Beach indicate that TIC is uniquely positioned to support the flow of such materials as they move into the marketplace. A TIC location also offers efficient access to the Port of Oakland, providing a link to all of California’s major ports from one location.”

The 606,000-square-foot warehouse facility, which will be built adjacent to IKEA’s western regional distribution facility, will be available for lease. It will serve the requirements of companies that need to move goods from California’s ports to a centralized location for staging prior to statewide or western regional distribution.

The Colliers International team of Thomas Taylor, Senior Vice President, and John DeGrinis, SIOR, Senior Vice President, are the brokerage representatives for leasing and land sale opportunities at TIC.

“This new facility will meet the growing demand for efficient, well-designed logistics-friendly warehouse space we see in the current marketplace,” said Taylor. “Conditions are growing tighter in the established Southern California industrial corridors for big-box warehouse space serving port related logistics concerns. TIC is the next logical location, especially for companies seeking an existing facility and who desire room for the option of future expansion.”

The benefits of locating in a Foreign Trade Zone can be significant. FTZs allow manufacturers and distributors to defer duty payment on imported items or raw materials that are stored an FTZ until such goods are removed from the FTZ facility and entered into the commerce of the United States for consumption. Qualified FTZ companies may also receive permission from Customs to move imported items directly from the ports to the FTZ, thereby avoiding delays at congested ports. In addition, the Trade and Development Act of 2000 allows FTZ companies to file one Customs entry per week versus one per day or per shipment. This procedure can significantly reduce the number of Customs entries filed annually, which results in reduced fees, streamlined Customs reporting procedures, lower inventory levels and overall costs savings.

TIC is located at the junction of Interstate 5 and Highway 99, at the southern end of California’s Central Valley, approximately 60 minutes north of Los Angeles and four hours south of Oakland. The 1,450-acre industrial/commercial complex is already home to 2.5 million square feet of existing warehouse facilities, including IKEA”s Western North American Distribution Center, which serves California, the western United States and Canada, and Oneida Ltd’s West Coast Distribution Center.

TEJON RANCH, CA (April 9, 2007) – The 5th District Court of Appeals in Fresno has affirmed a ruling by the Kern County Superior Court, clearing the way for the expansion of the Tejon Industrial Complex.

The Kern County Board of Supervisors originally approved the 1,109-acre expansion of Tejon Industrial Complex in 2003, but that approval was set aside when Kern County Superior Judge Kenneth C. Twisselman II ordered the County to do additional work on the Environmental Impact Report in response to a lawsuit filed by the Center for Biological Diversity, the Center for Race, Poverty and Environment, and several other advocacy groups.

In response to the court’s ruling, the County prepared a supplemental analysis to the EIR, and in November 2005 the Board of Supervisors again approved the expansion of Tejon Industrial Complex. The case returned to the court, and in March 2006 Judge Twisselman ruled the supplemental analysis prepared by the County satisfied his original court order. The Center for Biological Diversity subsequently filed an appeal of Judge Twisselman’s decision. On April 6, 2007, the 5th District Court of Appeals in Fresno ruled that Judge Twisselman’s decision was correct and affirmed his ruling that the expansion of Tejon Industrial Complex could proceed.

“We are pleased to have this issue behind us so we can move ahead with our vision for Tejon Industrial Complex,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “Tejon Industrial Complex is an important part of our vision to provide for California’s future by creating jobs and economic opportunity for thousands.”

When the Kern County Board of Supervisors approved Tejon Industrial Complex East – for a second time in 2005, Second District Supervisor Don Maben decried the delays created by the original lawsuit.

“This project has already created a thousand jobs and by now would have likely created another thousand and improved the quality of life for those holding those jobs, if there wasn’t this delay,” Maben said. “It’s a shame this had to take almost three (now 4 ½) years.”

California Condor to Benefit from State’s First Voluntary Discontinuance of the Use of Lead Ammunition

• U.S. Fish & Wildlife Service, Audubon California and Tejon Ranch Company make historic joint announcement of voluntary elimination of use of lead hunting ammunition at Tejon Ranch. • Lead poisoning called the greatest obstacle to full recovery of condor.

Los Angeles (February 23, 2007) – Tejon Ranch Company today joined with the U.S. Fish & Wildlife Service and Audubon California to further protect the California Condor by announcing it would discontinue the use of lead hunting ammunition on Tejon Ranch, the 270,000-acre privately-owned ranch in California’s Tehachapi Mountains that is home to the state’s largest private hunting program.

While tremendous progress has been made in bringing the bird back from the brink of extinction, poisoning from lead ammunition is regarded as the single greatest threat to the continued recovery of the California Condor. Lead ammunition poses a threat to the condors when the birds eat carrion containing the bullet fragments. Today’s move by Tejon Ranch is the latest effort by the Ranch to help protect the condor, which has historically used portions of Tejon Ranch for foraging and roosting.

Effective with the 2008 hunting season, only non-lead ammunition will be allowed on Tejon Ranch, making it the first major private wildlife management program in the state to voluntarily require the use of non-lead ammunition. It covers all lead ammunition used in hunting. Tejon Ranch Company worked closely with the U.S. Fish & Wildlife Service, California Department of Fish & Game, Audubon California and several hunting and environmental organizations to design the new regulation.

“Twenty-five years ago the world”s population of California condors was only 23 birds,” said Steve Thompson, Regional Director of the U.S. Fish and Wildlife Service. “Today, through the efforts of many, 70 condors fly freely above California. Today”s historic decision by Tejon Ranch to eliminate lead from its hunting program is a major step forward in our efforts to recover this magnificent bird.”

“Tejon”s actions today not only protect the California condor from lead ammunition poisoning on the Ranch, but also demonstrate statewide that hunting and the protection of endangered species can go hand-in-hand,” said Joel Reynolds, Senior Attorney and Director of the Natural Resources Defense Council’s Urban Program. “NRDC applauds Tejon for its leadership on this issue, and we urge the State of California to take similar common sense action to protect this unique and highly endangered bird throughout its territory.”

“Requiring non-lead ammunition is the next step in Tejon Ranch”s ongoing efforts to protect the California condor, which started in the early 1980s when the Condor Recovery Team used Ranch land to capture some of the last remaining condors for the captive breeding program,” said Robert A. Stine, President and Chief Executive Officer of Tejon Ranch Company. “We have a 170-year history of stewardship on the Ranch, which means when we learn a better way to manage our land’s resources, we adapt. New studies make the risk imposed by lead ammunition very evident, so we decided to take the lead on this issue and discontinue the use of lead ammo on Tejon Ranch.”

The requirement to use non-lead ammunition will go into affect with the start of the 2008 hunting season, which will allow hunters time to obtain and test non-lead alternatives. From that point forward, all hunters allowed on the property through Tejon Ranch’s Wildlife Management Programs will be required to certify that they are using only non-lead ammunition; violators will be banned from hunting on the property.

More than 1,800 hunters come to Tejon Ranch each year to hunt such animals as deer, elk, antelope, wild pigs, wild turkey, coyotes, squirrels, pigeons, doves and quail.

“Kudos from Audubon to the Tejon Ranch for not only making the right decision, but for its leadership role in ending the use of lead ammunition on the ranch,” said Glenn Olson, Vice President and Executive Director for Audubon California. “As California”s largest private landowner, Tejon Ranch and its decision today highlights the role private landowners can play in conservation.”

(TEJON RANCH, CA) Tejon Ranch Co. (NYSE: TRC) today announced the hiring of Teri Bjorn as its new Vice President and General Counsel. Bjorn has more than 27 years of legal experience, specializing in transactional real estate and land use law. Bjorn earned both bachelor’s and master’s degrees in French language and literature from the University of Iowa and received her law degree from George Washington University in Washington, DC. In 1984, she became the first woman partner in a law firm in Kern County, and then moved to become the first woman partner at Clifford & Brown, a firm where she would practice for 18 years. She is currently Of Counsel in the Bakersfield office of the Sacramento-based law firm of Kronick Moskovitz Tiedemann & Girard.

As General Counsel, Bjorn will serve as Tejon Ranch Co.’s chief legal representative, handling all legal matters from real estate transactions to corporate governance issues related to Tejon Ranch’s status as a publicly traded company.

“We are pleased that Teri Bjorn will be joining Tejon Ranch Co.,” said Robert A. Stine, President and CEO. “She has a keen mind, and with her legal experience and expertise, she will be a valuable member of our senior leadership group.”

Bjorn has been actively involved in governmental and community service. She served on the Bakersfield Planning Commission from 1987 to 1992, and during her tenure chaired a joint City/County commission to hear and approve a new general plan for the metropolitan area. In addition to her many other community endeavors, she recently completed a term as a community member of The Bakersfield Californian’s editorial board.

Bjorn is a member of the American Bar Association, the California and Oregon Bar Associations, the Kern County Bar Association, and the Kern County Women Lawyers Association.

Tejon Ranch Company 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.

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KEY EXECUTIVE JOINS TEJON MOUNTAIN VILLAGE

New VP & General Manager to lead development of Tejon Mountain Village, a joint venture of Tejon Ranch Company and DMB Associates, Inc.

TEJON RANCH, Calif. (October 16, 2006) — Roberta Marshall, a senior real estate development executive with more than 21 years experience with The Irvine Company, has been selected as Vice President and General Manager of Tejon Mountain Village.

As VP & General Manager, Marshall will lead the effort to develop Tejon Mountain Village, an environmentally sensitive residential and resort community being planned on Tejon Ranch. Featuring an extensive amount of natural open space, Tejon Mountain Village is designed to be one of America’s premier mountain retreat communities. The project is a joint venture of Tejon Ranch Company and DMB Associates, Inc.

“We are delighted that Roberta Marshall will be leading the team to develop Tejon Mountain Village,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “Her track record and reputation are of the highest caliber. Roberta is known for maintaining a positive working relationship and high credibility with government agencies, environmental groups, and local stakeholders.”

Marshall comes to the project with an exceptional record of achievement in developing large scale, master planned communities. Most recently, she oversaw The Irvine Company’s development of The Newport Coast in Orange County, Calif., a high end residential and resort community overlooking the Pacific Ocean. The Newport Coast community is a 11,000-acre development that features custom and semi-custom homes, several hotels, two Fazio-designed golf courses, more than 200,000 square feet of tourist-related commercial and neighborhood commercial development, and related recreational amenities.

The Irvine Company’s Newport Coast development is a well-balanced, environmentally sensitive community. In directing the effort to plan and build The Newport Coast, Marshall obtained entitlements from multiple jurisdictions and a number of federal, state and local agencies, including the California Coastal Commission, and successfully negotiated agreements with a number of environmental groups.

“Roberta Marshall is the perfect fit,” added Mark Kehke, Senior Vice President of DMB Associates, who is responsible for DMB Associates’ community development efforts in California. “Her experience and success in developing communities where environmental stewardship and having a light touch on the land is a top priority, as it is with Tejon Mountain Village, makes her the ideal person to help us create a wonderful place where residents and guests can enjoy a beautiful natural setting.”

Tejon Ranch is the largest and one of the oldest working ranches in California. Tejon Mountain Village is part of the Ranch’s vision for its future, a vision that outlines a limited amount of environmentally sensitive development, significant land preservation, and calls for the continuation of Tejon’s historic ranching, farming and hunting operations.

About Tejon Ranch Company (NYSE: TRC) Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com. For more information on Tejon Mountain Village, please go to www.tejonmountainvillage.com.

About DMB Associates, Inc. Founded in 1984 and headquartered in Scottsdale, AZ, DMB is one of the most active community developers in the West, with properties in Arizona, California, Utah, and Hawaii. The firm’s name is synonymous with high-quality real estate development. For more information on the company, please go to www.dmbinc.com.

CONTACT:

Tejon Ranch Company: Barry Zoeller VP of Corporate Communications (661) 663-4212 bzoeller@tejonranch.com

DMB Associates, Inc. Denise Resnik Denise Resnik & Associates (602) 956-8834 denise@resnikpr.com

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TEJON RANCH COMPANY – DMB ASSOCIATES FINALIZE PARTNERSHIP

Joint venture to develop Tejon Mountain Village

TEJON RANCH, Calif. (May 23, 2006) — Tejon Ranch Company (NYSE: TRC) today announced the signing of a joint venture agreement with DMB Associates of Scottsdale, Ariz., a leading resort/recreational planned community developer in the West, to jointly develop and build Tejon Mountain Village. The partnership unites two companies that share a common vision of high-quality, environmentally sensitive development.

“DMB’s outstanding reputation and track record as a developer of resort/recreational and primary home communities makes it the perfect company to help us develop Tejon Mountain Village,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “Another strength DMB brings to the partnership,” added Stine, “is the success it’s had collaborating and reaching consensus with major conservation groups.”

DMB’s equity investment in the partnership could ultimately exceed $100 million.

Tejon Mountain Village is designed to be one of America’s premier mountain residential/resort communities — a 23,000-acre nature reserve made possible by a sensitively planned 5,000-acre mountain retreat. Tejon Mountain Village will allow people to live in harmony with nature and protect the natural environment at the same time. It will offer a variety of beautiful homes and building sites, from golf and lakeside homes to mountain and equestrian estates, a number of small resort hotels, championship golf courses, hiking and equestrian trails and a variety of lakeside amenities.

“Tejon Mountain Village has all the ingredients for success,” said Drew Brown, Managing Director and CEO of DMB Associates, Inc. “It’s located just an hour or so north of Los Angeles, the landscape and views are spectacular and the environmentally sensitive plan respects the land. Together with Tejon Ranch Company, we’re looking forward to turning this wonderful location into a special place where residents and guests can enjoy this beautiful natural setting.” .

The joint venture, Tejon Mountain Village LLC, will spend the next several months moving forward with planning and entitlement efforts.

The development of Tejon Mountain Village is part of the Tejon Ranch Vision, or master plan for the future of the Ranch. The Tejon Ranch Vision begins with conservation, which is represented by the 100,000-acre Tejon Ranch Preserve the Ranch unveiled in June 2005 with its conservation partner, The Trust for Public Land. The Ranch Vision affirms Tejon’s commitment to its historic ranching, farming and hunting operations. In addition to Tejon Mountain Village, Tejon’s master plan for the development of its landholdings includes expansion of Tejon Industrial Complex and the building of the sustainable new town of Centennial. Tejon Ranch is partnered with Pardee Homes, Standard Pacific Homes and Lewis Investment Company in the development of Centennial.

About Tejon Ranch Company (NYSE: TRC) Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com. For more information on Tejon Mountain Village, please go to www.tejonmountainvillage.com.

About DMB Associates Founded in 1984 and headquartered in Scottsdale, AZ, DMB is one of the most active community developers in the West, with properties in Arizona, California, Utah and Hawaii. The firm’s name is synonymous with high-quality real estate development. For more information visit, www.dmbinc.com.

The statements contained herein, which are not historical facts, are forward-looking statements based on economic forecasts, strategic plans and other factors, which by their nature involve risk and uncertainties. In particular, among the factors that could cause actual results to differ materially are the following: business conditions and the general economy, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate businesses. For further information on factors that could affect the Company, the reader should refer to the Company’s filings with the Securities and Exchange Commission.

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BAKERSFIELD, Calif. (March 27, 2006) – Tejon Ranch Company is clear to move ahead with Tejon Industrial Complex – East following Kern County Superior Court Judge Kenneth Twisselman’s ruling on Friday dismissing the last legal challenges to the expansion of the commercial/industrial business park community.

The Kern County Board of Supervisors originally approved the 1,109-acre expansion of Tejon Industrial Complex in 2003, but that approval was set aside when Judge Twisselman ordered the County to do additional work on the Environmental Impact Report in response to a lawsuit filed by the Center for Biological Diversity and several other no-growth groups.

In response to the court’s ruling, the County prepared a supplemental analysis to the EIR, and in November 2005, the Board of Supervisors again approved the expansion of Tejon Industrial Complex. In doing so, the Board specifically noted the quality of the development plan and the economic impact of the master planned industrial/commercial center. Tejon Industrial Complex will generate thousands of jobs and millions of dollars in tax revenue for the county.

Judge Twisselman on Friday rejected arguments presented by attorneys for the Center for Biological Diversity and ruled the supplemental analysis prepared by the County satisfied his original court order, which had called for additional air quality analysis and the correction of two minor technical errors in the biological report.

“We congratulate the Kern County Planning Department and the County Counsel’s office. They did an excellent job,” said Robert A. Stine, President and CEO of Tejon Ranch Company. “We are pleased to have this issue behind us so we can move ahead with our vision for Tejon Industrial Complex, a vision that involves preserving California’s legacy and providing for California’s future. We believe Tejon Industrial Complex does both by creating jobs and economic opportunity for thousands, and by helping to improve the air quality in the San Joaquin Valley.”

Stine was referring to Tejon’s voluntary program to reduce air emissions.

Through a contract with the San Joaquin Valley Air Pollution Control District, Tejon Ranch established a fund the district is using to pay for the replacement of older polluting diesel engines. The program is already underway and engines are in the process of being replaced throughout the San Joaquin Valley air basin.

When they again approved the expansion of Tejon Industrial Complex last November, the supervisors were uniformly complimentary of Tejon Ranch’s efforts to clean the air.

“To have fully offset air quality impacts is something they ought to be commended for,” said 4th District Supervisor and Chairman Ray Watson. “You can”t ask for a higher standard of development, in my opinion.”

“Tejon Ranch should be congratulated for its efforts to clean the air,” added 5th District Supervisor Michael Rubio. “The company is serving as a model that others should follow.”

2nd District Supervisor Don Maben also decried the delay created by the original lawsuit.

“This project has already created a thousand jobs and by now would have likely created another thousand and improved the quality of life for those holding those jobs, if there wasn’t this delay,” Maben said. “It’s a shame this had to take almost three years.”

About Tejon Ranch Company (NYSE: TRC)

Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com.

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

Oneida Ltd. Takes 244,141 Square Feet, IKEA Adds 325,954 Square Feet Of Warehouse Space At Tejon Industrial Complex TEJON RANCH, Calif. (NOV, 2005) – Tejon Ranch Company (NYSE: TRC) announced two lease transactions today with Oneida Ltd. (OTCBB: ONEI) and IKEA. The companies have signed lease agreements totaling approximately 570,000 square feet of space within existing buildings at Tejon Industrial Complex, the 1,450-acre master planned commercial development that anchors California’s central trade corridor.

The commitment by both companies reinforces Tejon Industrial Complex’s presence as a strategic Western location, capable of meeting the demands for warehouse, distribution or manufacturing facilities. These latest transactions will bring the existing 651,909-square-foot modern industrial building to full occupancy.

Oneida Ltd., an international leader in the production and sale of quality tableware products, anticipates that it will begin moving into 244,141 square feet of space in November 2005, and is expected to add up to 100 new jobs at the site.

IKEA, the world’s leading home furnishings retailer, occupies more than two million square feet at Tejon Industrial Complex, inclusive of an expansion lease of 325,954 square feet. Currently, IKEA employs more than 500 at its facility and could add more jobs in 2006 as part of this expansion.

“Tejon Ranch is committed to delivering a site location that meets the needs of today’s industrial companies. We also continue to work hard to provide a solution that will enhance the flow of goods through efficiency, technology and better communication among those involved in the process,” said Robert A. Stine, President and CEO of Tejon Ranch Co., which developed and owns the building through a joint venture with Nevada-based DP Partners.

Tejon Industrial Complex is centrally located immediately north of Los Angeles in Kern County on Interstate 5 where it intersects Highway 99. Positioned on approximately 330 acres, the industrial complex features direct freeway exposure and provides unparalleled, ample room for truck access and maneuvering.

The site delivers roundtrip geographic access to 96 percent of California’s population in a single trucking day, which is crucial for truckers striving to meet new Federal laws requiring them to spend no more than 11 hours on the road in a 24-hour period. Additionally, the location offers access to the markets of 11 western states within a total of 24 hours.

“Tejon Industrial Complex is well-connected to established transportation corridors, as well as the major ports in California,” said Barry Hibbard, Vice President of Commercial and Industrial Development with Tejon Ranch. “There is a large labor pool readily accessible and the region also offers a higher and more affordable quality of life. The business climate of Kern County actually encourages companies to grow and expand here.”

John Minervini of Cushman & Wakefield represented Oneida Ltd. in the transaction. Thomas Taylor and John DeGrinis of Colliers Seeley International, Tejon Industrial Complex’s exclusive marketing and leasing team, represented the ownership.

For more information about the Tejon Industrial Complex, unique regional benefits, trends in global logistics and/or West Coast distribution or manufacturing site selection strategies, please contact Macy + Associates at (310) 821-5300 to secure an interview with the appropriate source.

About Tejon Ranch Co. (NYSE: TRC)

Tejon Ranch Co. 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. For more information on the Company, its Tejon Industrial Complex development, Interstate 5 retail centers, agribusiness operations, future real estate projects and land preservation programs, please logon to www.tejonranch.com.

About Oneida Ltd. (OTCBB: ONEI)

Oneida is a leading source of flatware, dinnerware, crystal, glassware and metal serveware for both consumer and food service industries worldwide. For more information on Oneida, its products, operations and corporate history, please logon to www.oneida.com.

About IKEA

IKEA currently has more than 225 stores in 33 countries, including 25 in the U.S., where other stores are being planned in: Brooklyn, NY; Canton, MI; Dublin, CA; Portland, OR; Round Rock, TX; Somerville, MA; Stoughton, MA; and West Sacramento, CA. Since its 1943 founding in Sweden, IKEA has offered home furnishings and accessories of good design and function, at low prices so the majority of the people can afford them. For three consecutive years, IKEA has been named to Working Mother magazine”s annual list of the “100 Best Companies for Working Mothers” and Training magazine”s annual “Top 100″ ranking of companies that excel at human capital development – as well as to this year”s FORTUNE””s “100 Best Companies to Work For” list. IKEA incorporates environmentally friendly efforts into day-to-day business and continuously supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web site, please go to http://www.ikea-usa.com. For information about working at IKEA, please visit http://JobsAt.IKEA-usa.com.

Contact:
Dennis Kaiser/Chris Egger Macy + Associates Inc. (310) 821-5300 or cegger@macyinc.com

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Environmental and Conservation Leaders Join Tejon Ranch Company and the Trust for Public Land in Unveiling of 100,000-acre Tejon Ranch Preserve

TEJON RANCH, CA, 05/24/05 – Environmental and conservation leaders today joined Tejon Ranch and the Trust for Public Land (TPL) officials to unveil the much-anticipated 100,000-acre, science-based Tejon Ranch Preserve on the historic ranch, located 60 miles north of Los Angeles.

The Preserve was mapped after nearly two years of scientific study designed to identify the best of the natural resources on the ranch. The process included review and recommendations by a scientific peer review panel and an independent environmental advisory group.

“We are very proud to unveil this preserve design based on hard science after nearly two years of research, on-site verification, and peer review by an independent Science Advisory Panel and a group of environmental advisers. The Tejon Ranch Preserve will protect a pristine, unique, and historic landscape equal to the size of Yosemite Valley and twice the size of Santa Catalina Island,” said Reed Holderman, Executive Director of the Trust for Public Land California.

Tejon Ranch and TPL also have signed an agreement to pursue the purchase, by a public agency or non-profit organization, in fee or through conservation easements, of the land within the defined preserve boundaries.

“The proposed 100,000-acre nature preserve on Tejon Ranch offers an extraordinary opportunity for protection of California”s wildlife heritage,” said Natural Resources Defense Council senior attorney Joel Reynolds, “This acquisition is critical to ensuring the preservation forever of this essential biological connection between the Sierras and the mountains of southern California.”

“The design of the 100,000-acre proposed nature preserve on Tejon Ranch is an excellent model for science-based conservation planning. It is designed to protect the best wildlife habitat from destruction, degradation, and fragmentation which are the driving forces behind today”s decline in species and biodiversity all over the country,” said Paul Henson, Ph.D., Assistant Manager, Ecological Services, California/Nevada Operations, U.S. Fish and Wildlife Service.

“The preserve design is the result of intensive scientific research and groundtruthing. Local environmentalists reviewed the design and offered input. The result is a sound preserve rooted in science with sensitivity to local environmental issues,” said attorney Carlyle Hall, co-founder of the Center for Law in the Public Interest in Los Angeles.

Overall, the Tejon Ranch Preserve protects the habitat of threatened and endangered species, preserves wilderness areas, and provides public access as the preserve design includes a long-hoped for realignment through Tejon Ranch of the Pacific Crest Trail, a 2,650-mile long congressionally designated scenic trail from the Mexican border to Canada.

“We are excited that the Pacific Crest Trail will have a secure and permanent corridor as part of the Tejon Ranch Preserve. This reroute of PCT will allow public access and a much improved user experience in this wonderful region of California,” said Liz Bergeron, executive director of the Pacific Crest Trail Association.

“The Tejon Ranch Preserve is a central part of our overall vision for the future of Tejon Ranch and is consistent with the Ranch”s historic core values of conservation and good stewardship,” said Bob Stine, President and Chief Executive Officer of Tejon Ranch Company. “We believe the Tejon Ranch Vision, which also calls for continuing our historic ranching and farming operations and the limited development of about five percent of the Ranch over the next 25 years, is a responsible and balanced plan for the future of Tejon Ranch, and shows our commitment to preserving California”s legacy and providing for California”s future,” Stine continued.

Tejon Ranch Company and TPL announced their partnership in 2003 to protect up to 100,000 acres of the ranch. Following the announcement, TPL hired Michael Josselyn, Ph.D., an authority on Southern California natural resources and president of WRA, Inc., of San Rafael, California, to lead a team of experts to evaluate the entire 270,000-acre Tejon Ranch and to design a 100,000-acre nature preserve.

Dr. Josselyn and his team had exclusive, full access to Tejon Ranch”s surveys and data and together with on-the-ground verifications, mapped important habitat areas of the ranch, including high value, environmentally sensitive lands, and lands connecting key habitats, and identified key areas for permanent conservation using six conservation priorities: watershed integrity, biodiversity, landscape connectivity, special status plant species, special status wildlife, and regionally underrepresented habitats.

“We have designed a preserve using sound conservation principles and the best scientific knowledge we have to meet the needs of special habitat species and regional goals, including the protection of the California condor, the ranch”s vast oak woodlands, and the unique biodiversity of Tejon Ranch,” said Josselyn.

Dr. Josselyn consulted with local and statewide environmental and biological experts, nonprofits, government agencies and others who have information important to the creation of the preserve. He also worked on the design of the science-based preserve with the project”s Environmental Advisory Group, which includes Joel Reynolds, senior attorney at the Natural Resources Defense Council; Esther Feldman of Feldman and Associates; Professor Victoria Sork, Ph.D., chair of the Department of Ecology and Evolutionary Biology at the University of California, Los Angeles; environmental attorney Carlyle Hall Jr. of the law firm Akin, Gump, Strauss, Hauer & Feld LLP, and Terri Stoller, co-founder of the Smart Growth Coalition of Kern County and a Bakersfield agribusiness owner. The Environmental Advisory Group was formed at the outset to provide Tejon Ranch and TPL with advice on how to enhance conservation planning efforts.

“The next steps are to begin the appraisal process to determine the value of the land and then to seek funding to purchase it. Working together, we hope to protect the many sensitive habitat lands that are home to the California condor and the largest unspoiled oak woodland in the state, as well as the critical wildlife corridor that links the coast to the sequoias,” Holderman added.

TPL is a national land conservation organization dedicated to conserving land for people as parks, greenways, wilderness areas and natural, historic and cultural resources for future generations. Founded in 1972, TPL has protected more than 2 million acres nationwide.

Tejon Ranch Company is listed on the New York Stock Exchange under the symbol TRC. Its principal asset is the 270,000-acre Tejon Ranch, which is located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. Founded in 1843 as several Mexican land grants, Tejon Ranch is now home to farming operations, cattle grazing, oil production, mining, recreational activities, and limited development along the Interstate 5 corridor.

More information is available at www.tejonranch.com

The statements contained herein, which are not historical facts, are forward-looking statements based on strategic plans, economic forecasts and other factors, which by their nature involve risk and uncertainties. In particular, among the factors that could cause eventual outcomes to differ materially from such statements are the following: results of scientific surveys and analyses, outcomes of negotiations, governmental decision-making, governmental fiscal conditions, business conditions and the general economy. For further information on factors that could affect Tejon Ranch Company, the reader should refer to its filings with the Securities and Exchange Commission.

Editor”s Note: High resolution maps and graphics on Tejon Ranch Preserve are available for downloading by going to www.tejonranch.com/news/trpreserve

Contact: Mary Menees, Trust for Public Land, (415) 495-5660 x375 or (415) 608-2645 (cell) Barry Zoeller, Tejon Ranch Company, (661) 663-4212

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Wednesday, February 16, 2005

Tejon Ranch Company (NYSE: TRC) is pleased to announce it has reached a development agreement with Rockefeller Group Development Corporation (RGDC) for a joint venture at Tejon Industrial Complex (TIC). The joint venture calls for the designation of 500 acres at TIC as a Foreign Trade Zone (FTZ) and the development of the property within the FTZ for warehouse/distribution uses.

Rockefeller Group Development Corporation has been involved in the development, management, and ownership of some of the most prestigious and well-known properties in the United States, most notably Rockefeller Center in New York City. For the last 20 years it has also been the leader in foreign trade zone development and management.

“The Rockefeller Group is one of the largest and most successful developers of FTZs in the United States,” says Robert A. Stine, President and CEO of Tejon Ranch Company. “We’re very pleased to be working with a company whose reputation and expertise is second to none.” The joint venture represents The Rockefeller Group’s first major industrial investment on the West Coast.

The Rockefeller Group recently commissioned a commodity flow analysis of imported materials into the ports of Los Angeles and Long Beach to assess trends and the direction of flow of such materials. The study indicated Tejon Industrial Complex is ideally suited for a Foreign Trade Zone designation. In fact, RGDC is already working with IKEA to obtain FTZ designation for the IKEA distribution center at TIC.

“Tejon Ranch’s Tejon Industrial Complex has all the elements that make it the right location for us,” says Tom McCormick, RGDC’s Senior Vice President of Development. “It’s a master-planned industrial center in the heart of California, and it’s one of the few places in the state that has enough land assembled to create the critical mass necessary for a successful FTZ.”

“The fact that Tejon offers direct access to both the ports of LA/Long Beach and the Port of Oakland, makes it a strategic location for all FTZ users looking to operate on the West Coast,” McCormick continued.

There are three main benefits for companies locating at a Foreign Trade Zone. It allows manufacturers or distributors to pay no duty on imported items or raw materials until such goods enter the commerce of the U.S. FTZ users may also receive permission from Customs to move imported items directly from the ports to the FTZ, thereby avoiding delays at congested ports. In addition, the Trade and Development Act of 2000 allows FTZ users to submit weekly reports and pay one broker and processing fee per week, rather than submitting a report and paying a fee for each shipment. This can result in significant potential cost savings.

Tejon Industrial Complex is located at the junction of Interstate 5 and Highway 99, at the southern end of the San Joaquin Valley, approximately 70 minutes north of Los Angeles. The 1450-acre industrial/commercial complex is already home to IKEA’s Western North American Distribution Center, which serves California and the western United States and Canada.

Tejon Ranch Co. 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. Rockefeller Group Development Corporation is a subsidiary of The Rockefeller Group, headquartered in New York City.

Contact: Barry Zoeller, Tejon Ranch Company, (661) 248-3000 Sandra Manley, The Rockefeller Group (212) 282-2123

Those of us who work at the 270,000-acre Tejon Ranch take our stewardship of this unique and beautiful land very seriously.

By BOB STINE, Bakersfield Posted

Last year we announced steps to ensure that about 100,000 acres of our 160-year old ranch be preserved forever as part of a long-term vision. It includes continued farming, ranching and hunting, as well as limited development of about 5 percent of the ranch.

Coverage of the habitat conservation plan we are pursuing in cooperation with the U.S. Fish & Wildlife Service has not fully explained our decade-old effort to create a protected habitat for the endangered California condor.

The FWS conducted a public meeting to determine issues that should be studied before finalizing plans for the preserve.

The ranch has sought for over a decade to create new protections for the condor. We are offering to establish a condor study area of approximately 37,000 acres that would serve as a long-term preserve. This area will remain in its current condition with only existing ranching and recreation uses allowed.

Priority will be the condor recovery program which can use the preserve for feeding and as a release site.

The habitat conservation plan will likely indicate that future development on the ranch can occur only in areas that are rarely used by the condor.

For example, the proposed Centennial community in the Antelope Valley in Los Angeles County is a flat area not used by condors. The winds there are downdrafts, which inhibit their flight.

The final HCP will contain other significant new measures to protect the condor, including a full-time staff biologist who will have the expertise to monitor condor activities; restrictions on development in areas that might impact the condor; a ban on wind farms and restrictions on new, tall antennae.

As part of the process of establishing an HCP, the law requires an that an “incidental take permit” be secured. This permit is often misunderstood. It does not allow intentional harm to condors. It protects property owners if a condor is accidentally harmed as part of normal, lawful activities identified in the plan. The FWS will prepare an environmental impact statement that analyzes issues and impacts of the plan.

The public will have an opportunity to comment before the agency makes final decisions.

Tejon Ranch has a proud record of solid land stewardship. We are confident that the habitat conservation plan will enhance that proud tradition.

Let there be no doubt: The Ranch is moving ahead with plans for limited development of about 5 percent of the Ranch over the next 25 to 30 years. This development will be far overshadowed by our on-going ranching and farming operations, by our 100,000-acre preserve and by our contribution to the conservation of the condor.

We believe our ranch vision offers a good balance between the need to provide housing, jobs and recreation for Kern County and California, and the need to preserve the legacy of land we are proud to oversee.

The condor HCP is a natural extension of that vision.

Tejon Ranch Company (NYSE-TRC) today announced two key additions to its growing business center, the Tejon Industrial Complex, a nearly 1,500-acre industrial development located at the intersection of Interstate 5 and State Highway 99, approximately 65 miles north of Los Angeles.

DP Partners, a Reno, Nevada-based national industrial developer and current partner of Tejon Ranch in developing the Tejon Industrial Complex, has announced that the California State Teachers Retirement System (CalSTRS) has become a significant capital partner in all of DP Partners developments across the nation. Aaron Paris, Chief Operating Officer of DP Partners explained; This provides DP partners with unique flexibility and agility in responding to market opportunities. We, and our CalSTRS partners, believe that the Tejon Industrial Complex will be a growing and important distribution and light-manufacturing center in California for years to come and we are pleased to be a part of the development. CalSTRS has built their success on a progressive real estate management strategy.

With a $94 billion investment portfolio, CalSTRS is the third largest pension fund in the United States. This public-private venture provides a solid investment for pension fund recipients and flexible real estate solutions for the real estate customer. CalSTRS now has a financial position in the first project of Tejon Industrial Corporation/DP Partners LLC and has also expressed its enthusiasm for the future opportunities at Tejon Industrial Complex.

Catellus Development Corporation, a publicly traded real estate development company with a total market capitalization exceeding $3.4 billion, has executed a purchase option for an approximately 80-acre industrial development site at the Tejon Industrial Complex. This agreement will permit Catellus to actively market its position at the complex. We are very pleased about this recent agreement with Tejon Ranch,” said Charlie Mc Phee, senior vice president of Catellus” Southern California region. “Location-wise, Tejon Industrial Complex offers firms a central distribution location, just north of Los Angeles County, with convenient access along major interstates and highways to markets throughout Northern California, Nevada, Arizona, and beyond. Furthermore, unlike in most of the fully developed industrial markets in and around the Los Angeles metropolitan area, Tejon can accommodate super-sized distribution warehouse facilities, along with reasonable assurance for future expansion, and it”s still only 110 miles from the ports of Los Angeles and Long Beach. Robert A. Stine, President and CEO of Tejon Ranch Company, expressed his pleasure at having Catellus take a position at the Tejon Industrial Complex. Catellus has produced some very exciting and significant industrial projects throughout California and the nation. We at Tejon are delighted that a corporation as strong and experienced as Catellus would join us in building the Tejon Industrial Complex.

Stine further stated: The commitment of two significant national developers like DP Partners and Catellus to the Tejon Industrial Complex, with their financial strength, and their reputations for building long-lasting relationships with their clients, is the business equivalent of knowing that every time you come up to bat, you are going to hit a home run. This is just further testimony to the strategic value of the Tejon Industrial Complex. When completed the Tejon Industrial Complex is expected to generate more than 6,000 direct jobs and nearly $15 million in new tax revenues for Kern County.

Tejon Ranch leaders celebrated the 160th anniversary of the Ranch this year by announcing a long-term Ranch Vision that includes plans for limited development, a permanent commitment to farming and ranching operations and the permanent conservation of up to 100,000 acres of sensitive habitat lands. This 100,000-acre preserve would be nearly twice the size of Catalina Island and about the same size as Yosemite Valley. Ranch leaders are currently working in partnership with The Trust for Public Lands to create a conservation plan.

DP Partners is found on the worldwideweb at: www.partnerwithdp.com

Catellus Corporation is found on the worldwideweb at: www.catellus.com

Tejon Ranch Co. is found on the worldwideweb at: www.tejonranch.com

Contact: Heather Sievers, Amies Communications, Phone: (949) 863-1910 email: heather@amies.com

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