A Letter from the President

Dear Friends,

At Tejon Ranch, we recognize the privilege and responsibility we have to be good stewards of this remarkable California landscape.  We are dedicated to using our land in ways that will benefit conservation, the local community, the people of California, and our shareholders. Simply put, it’s our goal to continue to build the legacy of this beautiful land and this great company.

Our commitment to conservation is unsurpassed.  Through our 2008 Conservation and Land Use Agreement—the largest private conservation agreement in California history–we will declare up to 240,000 acres – 90% of the Ranch –as off-limits for development.  The land will continue to be used as it has historically, as farming and ranching land.   Much of Tejon Ranch is also covered by a Habitat Conservation Plan, which protects the California condor and 24 other plant and animal species.

As California continues to grow, we recognize our obligation to wisely and responsibly plan for that growth.  Current and future generations of Californians – our children and grandchildren – will need homes and jobs and opportunities to build a future.  Our vision to accomplish this involves the environmentally sensitive development of a small portion of our land.  Our master planned communities: the commercial/industrial Tejon Ranch Commerce Center, home to the Outlets at Tejon; the sustainable mixed use communities of Centennial and Grapevine; and the world class mountain resort community of Tejon Mountain Village, are and will be models of development in the 21st century.

Tejon Ranch is also unique in that there are few places in California where all of this can be accomplished, and that holds tremendous value for our shareholders and investors.

I hope you take the opportunity to view the video that’s on the website.  There you’ll see the core values that drive all that we do at Tejon Ranch:  Legacy, Stewardship, Quality, Vision.  We look forward to you joining us, as a shareholder, partner, visitor, or future homeowner, as we partner together in Building the Legacy.

Sincerely,

signature_bielli

Gregory S. Bielli
President and Chief Executive Officer