ADVISORY/Plan to Pursue Permanent Public Protection of Pristine Ranchlands to Be Announced; Helicopter Site Tours Offered To Media.

News Editors/Assignment Desks

ADVISORY...for Thursday (May 29)

--(BUSINESS WIRE)

WHAT:      Press briefing and site tour via helicopter. Lunch will be
           served.

           Bob Stine, chief executive officer of Tejon Ranch Co.,
           and Reed Holderman, executive director of the Trust for
           Public Land California, will announce a strategic
           partnership that will pursue sale and permanent
           preservation of sensitive habitat lands on the ranch.

WHEN:      Thursday, May 29, 2003
           11 a.m.

WHERE:     Tejon Ranch headquarters -- Take Interstate 5 to the Fort
           Tejon exit. Tejon Ranch headquarters is located on the east
           side of Interstate 5. The Fort Tejon exit is approximately
           one hour north of the Burbank Airport and approximately 35
           minutes south of Bakersfield.

RSVP for
Helicopter
Tours:     Helicopter tours are offered on a reservation basis to
           members of the media only, immediately following the press
           conference. Call Marcus Ginnaty at 949/583-2616 or
           949/439-3864 if you wish to take a 20-minute tour, and we
           will reserve a time slot for you.

Editor's
Note:      A Web site will be launched in conjunction with the press
           briefing and will contain additional information on the
           announcement. This online information will be available at
           www.tejonranch.com immediately following the press
           conference. Also, note that a tape of the press conference
           will be posted to the site by 4 p.m. on the day of the
           event.