Tejon Mountain Village Names New Vice President

Tuesday, November 07, 2006

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